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...
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