MF Global Trustee Seeks Court Permission to Repay Creditors

MF Global Inc. wants court approval to pay $461 million owed to its creditors, the second such payment now that it has paid back most of its customers. In a Wednesday filing with the U.S. Bankruptcy Court in New York, trustee James W. Giddens said he wanted to distribute the cash to unsecured creditors, who have already received $518.7 million. The latest distribution would bring unsecured creditors’ payout to 72% of what Mr. Giddens has agreed to pay. MF Global’s brokerage and commodity customers have already received 100% of the $6.7 billion they were owed. More in the Wall Street Journal here.