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Conditional settlement – update following US Bankruptcy Court hearing

Conditional settlement – update following US Bank...

Further conditions remain outstanding and will be updated in due time

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The Administrators are pleased to announce that, on 31 January 2013, the US Bankruptcy Court approved the conditional settlement agreement dated 22 December 2012 between MFG UK and MF Global Inc (MF Global Trustees and Administrators announce agreements).

US Bankruptcy Court approval was one of the conditions to the settlement agreement becoming unconditional. Further conditions remain outstanding and the Administrators will provide a further update on this website if and when those conditions are satisfied or waived and the settlement agreement becomes unconditional.

Once the settlement agreement becomes unconditional, the Administrators intend to make a further distribution to client money claimants and to pay an initial dividend to unsecured creditors. Administrators’ updated Illustrative Finance Outcome Statement (PDF 142.6 KB).

 

For the latest updates from the special administrators of MF Global UK Limited please visit our dedicated page. 

MF Global UK special administration

For all non-press enquiries on MF Global UK Limited please email the following:


Claim queries: mfglobalclaims@kpmg.co.uk

© 2020 KPMG LLP, a UK limited liability partnership, and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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