Bloomberg News

MF Global Trustee Says Goal Is to Return 100 Percent of Funds

December 13, 2011

Dec. 13 (Bloomberg) -- James Giddens, the trustee liquidating MF GLobal Inc., said his goal is to return 100 percent of funds to customers of the bankrupt broker-dealer, according to prepared testimony to be delivered today in Congress.

“I may also seek Bankruptcy Court approval to allocate existing funds from the general creditors’ estate for distribution to customers to the extent of regulatory shortfalls and under certain conditions and circumstances,” Giddens said in the prepared testimony.

To contact the reporter on this story: Tiffany Kary in New York at tkary@bloomberg.net

To contact the editor responsible for this story: John Pickering at jpickering@bloomberg.net


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