Missing MF Global Customer Funds Remain A Mystery

Law360, New York (November 16, 2011, 8:27 PM EST) -- Attorneys for MF Global Holdings Inc. and the trustee who is liquidating its broker-dealer subsidiary told a New York bankruptcy judge Wednesday that they still have no idea how much money is missing from customers' accounts, how it may have disappeared or where it went.

“Exactly what the amount is hasn't been reconciled, exactly what happened, I don't think anyone knows at this point,” said James B. Kovak Jr., of Hughes Hubbard & Reed LLP, counsel for liquidating trustee James W. Giddens.

He and Kenneth S....
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