MF Global $1 Billion Vanished Into Brokerage, Court Is Told
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MF Global Holdings Ltd. still can’t trace where some of the money went when its brokerage collapsed, including $1 billion that “vanished” into the brokerage unit MF Global Inc., an attorney told a bankruptcy court.
Brett Miller, a lawyer for MF Global Holdings’ Chapter 11 estate, told U.S. Bankruptcy Judge Martin Glenn in Manhattan today that court papers detailing the assets and debts of five of its six bankrupt units are likely to be filed today. Details on the sixth, MF Global USA, which filed for bankruptcy in March, will take about another week, he added.