Creditors Take The Lead In Offering 1st MF Global Plan

Law360, New York (January 11, 2013, 9:13 PM EST) -- MF Global Holdings Ltd.’s general unsecured creditors on Thursday released the first proposed liquidation plan in the fallen company’s Chapter 11 proceedings, beating the debtors to the punch with a plan that promises to pay former customers' claims in full.

The proposed plan for MF Global and its affiliates was put forward by Citigroup Financial Products Inc., Silver Point Capital Fund LP, Bluemountain Timberline Ltd., Caspian Capital Group LP, Deutsche Bank Securities Inc. and Waterstone Capital Management LP, among others.

“The primary objective of the plan...
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