MF Global Wants To Cap Claims By Corzine, Other Ex-Execs
By Jeff Sistrunk
Law360, Los Angeles (June 06, 2014, 10:34 PM ET) -- MF Global Holdings Ltd. on Thursday asked a New York bankruptcy judge to cancel or cap certain claims by former officers, including Jon Corzine, who have been targeted in litigation related to the brokerage's collapse, in order to allow MF Global's bankruptcy plan administrator to make payments to other creditors.
Lawyers for the administrator asked U.S. Bankruptcy Judge Martin Glenn to disallow certain indemnification claims by ex-MF Global officers, or to subordinate them to claims by other creditors. In addition, the administrator is seeking to cap...