MF Global Customers Seek $40M Cap On Attys' Fees

Law360, Washington (June 7, 2013, 8:32 PM EDT) -- A group of MF Global Inc. customers urged a New York bankruptcy judge on Thursday to set a hard $40 million cap on attorneys’ fees executives can draw from the firm's insurance coffers, alleging the charges have ballooned at “an alarming rate.”

According to the commodity customers, defense costs for MF Global and its former officers and executives have grown more than $20 million in the last year, from $8.3 million to “nearly $30 million,” and will jeopardize the funds available to customers and others affected...
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.