MF Global Sues JC Flowers, Investors Over $20M Dividends

Law360, New York (October 31, 2013, 3:50 PM EDT) -- MF Global Holdings Ltd. on Wednesday sued a unit of private equity firm J. C. Flowers & Co. and a group of unidentified investors over $20 million in dividends they reaped before the brokerage descended into bankruptcy.

In a seven-page complaint, MF Global claims the $16.09 million in earnings JCF MFG Holdco LLC took in and the $3.9 million a group of 25 investors received between November 2010 and August 2011 are avoidable, fraudulent transfers that it is entitled to recover.

“Upon information and belief, during...
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