Judge OKs $685M Payout To MF Global Customers

Law360, New York (April 24, 2012, 9:51 PM EDT) -- A New York bankruptcy judge on Tuesday approved a bid by the liquidation trustee of MF Global Inc.'s broker-dealer unit to hand out some $685 million to customers on top of the more than $4 billion the trustee has already distributed.

U.S. Bankruptcy Judge Martin Glenn agreed to the request by James W. Giddens, the Securities Investor Protection Act-appointed trustee overseeing the liquidation of MF Global's broker-dealer outfit, after Giddens proposed an amended release clarifying whom the customers receiving the distributions must release from certain claims....
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