JPMorgan Seeks Lien on MF Global Assets to Cover Collateral

JPMorgan Chase & Co. seeks a lien on all of MF Global Holdings Ltd.’s assets and may have a lien on its operating account balance of $26.6 million, the bank said.

MF Global, which filed for bankruptcy with assets of $41 billion, has five operating accounts, all with JPMorgan. The bank may have a lien on the entire balance because of so-called setoff rights related to a credit line to MF Global where it acts and agent and lender, the New York-based bank said in a filing.