MF Global Trustee Seeks Settlement
As Louis Freeh, the trustee for MF Global’s holding company, reaches out to James Giddens, his counterpart responsible for the company’s brokerage arm, chances for a settlement appear to be narrowing. From law firm Shipkevich:
“… discord among the trustees has escalated recently, with Giddens joining a lawsuit filed by former customers against MF Global’s top executives. More fundamentally, the two may find it difficult to reconcile their underlying goals. While Freeh’s obligation is to institutional creditors who are seeking to recover more than $2 billion in claims against the brokerage unit, Giddens is responsible for recovering as much as possible of the $1 billion in customer funds that disappeared when the company imploded.”
Read the update, MF Global Trustee Wants “Global Settlement” - Shipkevich PLLC
