Judge Holds Off Approving MF Global Payment to Creditors

NEW YORK—MF Global’s creditors, who have waited nearly three years to get paid, will have to wait a little longer after a bankruptcy judge Monday held off approving its bid to repay them $295 million. Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan was uncomfortable with one part of the proposal: MF Global’s request to estimate certain unresolved claims at zero dollars. The judge said he was “not happy” that he didn’t have enough information on some of the claims. “I think I’d like to know what the claim is before I estimate it at zero,” Judge Glenn said, his voice raised. More in the Wall Street Journal here.