MF Global Won't Challenge Firm $40M Cap On Attys' Fees

Law360, New York (June 25, 2013, 8:15 PM EDT) -- MF Global Inc.'s bankruptcy plan administrator said Tuesday that it won't object to a “hard cap” on a proposed limit increase to $40 million on attorney fees in New York bankruptcy court, while insurers say those arguing for a modified limit are those who caused fees to increase at an “alarming rate” in the first place.

The administrator, MF Global Holdings Inc., doesn't oppose a request made by commodities customers to make a proposed $40 million limit on defense costs firm rather than a “soft cap,”...
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