Ex-MF Global executives can tap more legal defense money: judge

Jon Corzine and other former insiders of collapsed brokerage MF Global can tap another $10 million of insurance funds to defend lawsuits accusing them of hastening the firm’s downfall, a U.S. judge said on Monday. Judge Martin Glenn granted the request from Corzine and the others at a hearing in U.S. Bankruptcy Court in New York, raising to $40 million from $30 million the cap on what the defendants can draw. Glenn authorized roughly $3.7 million more to pay the legal fees of defendants no longer involved in the cases. However, the judge was irked at the request, saying he had expected the initial $30 million to cover most of the litigation. More on Reuters here.