Corzine Says Business Judgment Rule Trumps MF Global Suit

Law360, New York (July 23, 2013, 6:23 PM EDT) -- Former MF Global Holdings Ltd. CEO Jon Corzine on Monday urged a bankruptcy court in Manhattan to throw out the lawsuit accusing him and two other former executives of sinking the company through a dodgy trading strategy, arguing they are protected by the business judgment rule.

While the lawsuit brought by MF Global Holdings Ltd. bankruptcy trustee Louis Freeh says Corzine and onetime MF Global President Bradley Abelow along with former Chief Financial Officer Henri Steenkamp "breached their fiduciary duties of care, loyalty and oversight over...
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