MF Global Seeks to Cut Claims of Ex-CEO Corzine, Other Officers

MF Global Holdings Ltd. wants a judge to slash the claims of former officers being sued over the broker-dealer’s bankruptcy, including ex-Chief Executive Jon S. Corzine, so the estate can quickly pay back other creditors. In a Thursday filing with U.S. Bankruptcy Court in Manhattan, lawyers for the team winding down MF Global asked Judge Martin Glenn to cancel certain claims filed by Mr. Corzine and others, or at the very least, place them below those of other creditors or estimate the maximum amount the officers could receive. In the filing, administrator winding down MF Global said, without the approval, “these contingent and unliquidated claims will unduly delay the administration of the Chapter 11 Cases and prevent the Plan Administrator from making distributions to all creditors.” With an approval, some creditors of MF Global’s Finance USA unit could see some of their money within weeks, the filing said. A hearing on the matter is set for June 19. More in the Wall Street Journal here.