Deals
MF Global Brokerage Liquidation, Trustee Approved by Judge
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Bankrupt MF Global Holdings Ltd.’s broker-dealer will be liquidated under the supervision of the same trustee who is unwinding Lehman Brothers Holdings Inc.’s brokerage, a federal judge ruled.
James Giddens, the trustee liquidating Lehman’s brokerage after its parent filed the biggest bankruptcy in U.S. history, was appointed today after the Securities Investor Protection Corp. sued broker-dealer MF Global Inc., run by former Goldman Sachs Group Inc. co-chairman and former New Jersey Governor Jon Corzine. SIPC said the broker-dealer might not be able to meet its obligations to customers who have accounts with the company.