MF Global Trustee Says Most Customer Claims Are Complete

The trustee for the Securities and Protection Act liquidation of MF Global Inc. said Tuesday that final distribution on allowed customer claims was nearly complete, and that he was making “urgent efforts” to reconcile the remaining claims, most of which haven’t received final court approval.
James W. Giddens said that more than 99 percent of distributions on 26,000 allowed customer net equity claims were complete, with $6.37 billion going to more than 21,000 customers. Just under 2,000 claims remain, and Giddens said his staff was making several hundred calls a week in an attempt to spur the last customers to provide the necessary information and documentation in order to be paid. “The trustee is pleased that progress in the administration of the general estate has reached a point of now being able to anticipate filing motions by this fall for the full distribution of allowed administrative and priority claims and a sizeable interim distribution for general unsecured claims,” Giddens said. More on Law360 here.