A group of MF Global Holdings Ltd. (MFGLQ) creditors proposed a liquidation plan that would pay as much as 41.5 cents on the dollar for unsecured claims after the company reached key settlements last month with affiliates. Citigroup Global Markets Inc., Blue Mountain Timberline Ltd., Cyrus Capital Partners LP, Deutsche Bank Securities Inc., Silver Point Capital LP and Waterstone Capital Management LP are among the plan’s backers, according to a filing yesterday in U.S. Bankruptcy Court in Manhattan. The creditors said they hold about 65 percent of certain MF Global loans and bonds. “The plan proponents have proposed the plan to facilitate the prompt and efficient conclusion of the Chapter 11 cases,” they said in the accompanying disclosure statement. More on Bloomberg here.
