MF Global Creditors Undeterred by Low Value
Jan. 16 (Bloomberg) -- The low valuation creditors of MF Global Holding Ltd. put on their liquidating Chapter 11 plan isn't deterring the bond market where debt is being sold for roughly twice the predicted recovery for unsecured creditors of the liquidating commodity broker's holding company. Lehman Brothers Holdings Inc. is the second item on the new video with Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. Will the bankruptcy judge uphold a provision in Lehman's plan where distributions are forfeited if checks aren't cashed in 90 days? Also, Vertis Inc., just sold for $170 million to Quad/Graphics Inc., taught an expensive lesson to a Florida man who decided to violate a bankruptcy court injunction. The video ends with more depressing statistics for bankruptcy professionals and an opinion from a district judge in Chicago that could prohibit some creditors from being heard in bankruptcy court.