Register | Forgot Your Password? | Close

NEW YORK (AP) - Former brokerage customers of MF Global could fully recover cash that was frozen when the trading firm collapsed.

That's according to the bankruptcy trustee in the Chapter 11 case. A court filing on Saturday by the trustee, former FBI Director Louis Freeh, outlines a potential range of recovery based on the latest projections of assets versus claims.

That range is from a potential shortfall of $6 million to a surplus of $120 million. If there's a surplus, customers whose money was frozen when MF Global collapsed could get a full recovery.

The case is pending before a bankruptcy judge in New York.

MF Global was headed by former New Jersey Governor and U.S. Senator Jon Corzine. It collapsed in Oct. 2011 after making a disastrous bet on European debt.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus