Wednesday, January 30, 2013

MF Global -- Good News...

At long last, it looks like the MF Global situation will be resolved in a positive way -- with the possibility of making customers "whole."

The NY Times reports:

On Thursday, a bankruptcy court will review a proposal that would return 93 percent of the missing money to customers like Mr. Desai. And the trustee who has submitted the proposal, James W. Giddens, has quietly identified a way that, if sent to the judge and approved, could plug the remaining shortfall for customers in the United States, according to people involved in the case.

The broad push to make MF Global customers nearly whole, a goal now surprisingly within reach, is a remarkable turnaround from the firm’s 2011 bankruptcy filing when such a recovery seemed impossible.

Read more here:

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