$685M Payout To MF Global Customers On Hold

Law360, New York (April 12, 2012, 3:22 PM EDT) -- A New York bankruptcy judge declined Thursday to rule on MF Global Inc. liquidating trustee James Giddens' bid to pay $685 million to customers of the collapsed MF Global Holdings Ltd. broker-dealer unit, temporarily heeding objections over legal releases.

U.S. Bankruptcy Judge Martin Glenn said he would hold off ruling on the motion, which sought to pay $600 million in a third distribution to U.S. customers who lost money when MFGI went bankrupt. Giddens also sought to make the first distribution to non-U.S. customers, of $50...
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