MF Global Holdings Had Cash Flow of $2.2 Million in February

MF Global Holdings Ltd. (MFGLQ) had net cash flow of $2.2 million in February, according to an operating report filed in U.S. Bankruptcy Court in Manhattan.

The bankrupt parent company of failed brokerage MF Global Inc. had $21 million in cash collateral available from its largest lender, JPMorgan Chase & Co. (JPM), as of Feb. 29, MF Global Holdings said in the report filed today. It took in $3 million in cash from completing the sale of positions and lost $1 million through a transfer to its MF Global Finance USA Inc. unit, according to the report.

MF Global Holdings, once run by former Goldman Sachs Group Inc. (GS) co-chairman Jon Corzine, filed the eighth-largest U.S. bankruptcy after a $6.3 billion trade on its own behalf on bonds of some of Europe’s most indebted nations. Its bankruptcy filing listed assets of $41 billion and debt of $39.7 billion. Corzine, also a former U.S. senator and New Jersey governor, quit as chief executive officer on Nov. 4.

The report listed $635,907 paid for payroll and employee benefits and said the New York-based company has repaid $7,810 under its cash-collateral agreement.

The brokerage case is Securities Investor Protection Corp. v. MF Global Inc., 11-02790, U.S. District Court, Southern District of New York (Manhattan). The parent’s bankruptcy case is MF Global Holdings Ltd., 11-bk-15059, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

To contact the reporter on this story: Tiffany Kary in New York at

To contact the editor responsible for this story: John Pickering at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.