Administrators handling the U.K. arm of the defunct brokerage MF Global said Monday that they have started making payments to some clients as the process of unwinding the firm continues, and amid the threat of a legal spat with the U.S. trustee for the brokerage. KPMG, the U.K.-based administrator overseeing the unwind of MF Global’s London-based division, said it had made some distributions to clients with “agreed client money claims” from Friday. The first wave of settlements affects up to 600 clients with estimated claims of $12 million, KPMG said in a statement, with a second wave of settlements starting from next week, affecting another 1,300 clients with estimated claims of $19 million. Read Wall Street Journal article here.
