2nd Circ. Nixes MF Global Customers' Bid For Ch. 11 Priority

Law360, New York (December 6, 2013, 6:38 PM EST) -- The Second Circuit rejected on Friday a bid by Sapere Wealth Management LLC to overturn a ruling that MF Global Inc. commodity customers could not jump ahead of other creditors in the MF Global Holdings Ltd. Chapter 11 proceedings.

A three-judge panel upheld a New York federal court’s October 2012 ruling shutting down Sapere’s bid for reconsideration of U.S. Bankruptcy Judge Martin Glenn’s February 2012 order, which disallowed commodity customers getting paid before all other Chapter 11 creditors. The district court had dismissed the appeal for...
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