MF Global ‘most traded bankruptcy claim’

MF Global has edged out Lehman Brothers as the most actively traded bankruptcy claim, the first time since 2008 that the failed investment bank has not held the top spot. A lively market emerged in billions of dollars’ worth of Lehman creditor claims after the company filed for bankruptcy four years ago. Claims in the collapsed bank have eclipsed those of all other companies, including Enron and Borders, ever since. But some 308 MF Global claims, worth $873m, switched hands in September, according to SecondMarket, which provides a trading platform and auction process for bankruptcy claims. That was 216 claims more, or $19m higher, than transfers in Lehman claims. Claims in MF Global were bought by 25 institutional buyers last month at an average price of $2.8m per claim, SecondMarket said. Click here for Financial Times report.

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