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Battle lines forming between MF Global customers and hedge funds

The MF Global saga could soon become a legal battle between hedge funds and the futures brokerage’s shortchanged customers, with more than a billion dollars at stake. As the investigation into the collapse of the Jon Corzine-led brokerage moves into more of a regulatory whodunnit than a criminal case, the guessing game centers on who the two court-appointed trustees overseeing MF Global’s liquidation will sue to recoup money owed to customers of MF’s broker-dealer unit and creditors of its parent. More in the Wall Street Journal here.

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