MF Global Commodities Customer Can't Get Priority Status

Law360, New York (November 13, 2012, 7:34 PM EST) -- A New York federal judge on Tuesday upheld a bankruptcy judge's ruling that commodity customers of collapsed broker-dealer MF Global Inc. shouldn't be allowed to jump ahead of other creditors in parent company MF Global Holdings Ltd.'s Chapter 11 case.

U.S. District Judge Katherine B. Forrest upheld U.S. Bankruptcy Judge Martin Glenn's decision in a bench ruling. In his Feb. 1 ruling, Judge Glenn had denied a request by MFGI commodity customer Sapere Wealth Management LLC that he administer MFGH's case in such a way that...
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