We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

MF Global Trustee Dealt Blow in UK Repo Fight

Law360, New York (November 1, 2012, 10:31 PM EDT) -- A U.K. trial court judge on Thursday ruled MF Global Inc.'s U.K. subsidiary is entitled to calculate what it owes its parent to settle internal repurchase agreements on the broker-dealer's disastrous European sovereign debt purchases, in a setback for the American company's bid to recoup about £286 million ($461 million). 

U.K. High Court Judge Richard Williams ruled MF Global U.K. is the nondefaulting party under the global master repurchase agreement governing the contracts. This means its current administrator, KPMG, can calculate the sum it owes to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.