MF Global Holdings Amends Agreement to Use JPMorgan Cash
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MF Global Holdings Inc. agreed on new terms to use cash collateral of its largest lender, JPMorgan Chase & Co., and seeks court permission to extend its use of the money until March 31.
An agreement between the company’s Chapter 11 trustee, Louis Freeh, and the New York-based bank would extend a prior deadline of Sept. 30, according to papers filed today in U.S. Bankruptcy Court in Manhattan. It would also increase to $750,000 from $500,000 the fees and expenses for which JPMorgan is entitled to be reimbursed.