ConocoPhillips Fights $205M MF Global Clawback Bid

Law360, New York (August 6, 2012, 11:26 PM EDT) -- Houston-based energy company ConocoPhillips Co. on Friday argued that its dispute with MF Global Inc.’s bankruptcy trustee over his treatment of $205 million in letters of credit the company had secured for the now-collapsed brokerage should be moved to federal court because it involves an unusual interpretation of a federal agency rule.

In a motion to withdraw the bankruptcy court reference filed in New York federal court, ConocoPhillips argues that the trustee is wrongly interpreting a rule by the U.S. Commodity Futures Trading Commission to mean...
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