Categories

MF Global customers win big

MF Global’s Australian customers have scored a significant win after a court ruled that a pool of $62.7 million being fought over by creditors be distributed in their favour. Justice Ashley Black of the NSW Supreme Court ruled yesterday that the $16m being pursued by MF Global Singapore and the $46m being pursued by ordinary creditors of MF Global Australia should be regarded as client funds and distributed accordingly.
The ruling represents a milestone for MF Global Australia’s client base of investors and traders who had $313m in accounts frozen when its US parent collapsed amid claims of misappropriation of client money. More in the Australian here.

Share This Page:
  • email
  • Facebook
  • Twitter
  • LinkedIn