JPMorgan Hands $168M In Collateral To MF Global Trustee

Law360, New York (May 18, 2012, 7:46 PM EDT) -- JPMorgan Chase Bank NA on Friday handed over about $168 million to James Giddens, the trustee liquidating the estate of MF Global Inc., representing the proceeds of excess cash collateral the bankrupt broker-dealer had posted at the beginning of its liquidation.

The cash collateral is separate from a $200 million payment the MF Global Holdings Ltd. unit made to the bank to cover a $175 million overdraft and from the $1.6 billion that went missing from customer accounts in the days leading up to its bankruptcy...
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