MF Global's Canada Unit To Hand Over $61M In Forex Funds

Law360, New York (July 11, 2012, 2:11 PM EDT) -- A New York bankruptcy judge on Wednesday approved a deal MF Global Inc.'s trustee reached with the liquidating broker-dealer's Canadian affiliate, which will hand over to the MFGI estate $60.6 million of foreign exchange customer funds from the $103.6 million it holds.

U.S. Bankruptcy Judge Martin Glenn blessed the compromise between MFGI trustee James W. Giddens and KPMG Inc., the bankruptcy trustee for MF Global Canada Co., under which the Canadian MF Global Holdings Ltd. unit will return the funds to the MFGI estate for distribution...
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