Koch Unit Slams MF Global Trustee's $20M Claim

Law360, New York (July 20, 2012, 8:28 PM EDT) -- Koch Supply & Trading LP asked a New York bankruptcy court Thursday to declare an expired $20 million letter of credit a dead letter and not, as MF Global Inc.'s liquidating trustee has asserted, a live debt that must be paid to the beleaguered firm's estate.

MF Global had been the beneficiary of the $20 million standby letter of credit, which was to be used if KS&T fell short in its accounts. KS&T said the letter, which expired two months after MF Global collapsed into Chapter...
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