Jon Corzine and other ex-managers of MF Global Inc. are appealing a court ruling calling for 100 percent repayment to customers of the bankrupt brokerage, a move its trustee said may delay distributions.
As guests dined on tea-smoked quail at a party in Washington last month, Lieutenant General Douglas Lute , President Barack Obama ’s coordinator for Afghanistan policy, stood to offer praise for a new report.
Jon Corzine, the former head of MF Global Holdings Ltd., masterminded a scheme to inflate earnings that led to the eighth-biggest bankruptcy in U.S. history, according to an updated lawsuit filed by a trustee for the failed futures broker.
Jon S. Corzine, former chairman and chief executive officer of MF Global Holdings Ltd., Bradley Abelow, chief operating officer and Henri Steenkamp, chief financial officer, testify before the Senate Agriculture Committee on the collapse of the New York-based brokerage. (This is part 1 of the second of three panels appearing before the committee. Source: Bloomberg).
MF Global Holdings Ltd., the holding company for the broker-dealer run by ex-Goldman Sachs Group Inc. co-chairman Jon Corzine, filed for bankruptcy protection as it seeks to reorganize after making bets on European sovereign debt. Its broker-dealer unit, MF Global Inc., faces liquidation.
Citigroup Inc., whose $285 million settlement with U.S. regulators over a collapsed collateralized debt obligation was faulted by a federal judge as too lenient, may have to pay more money to avoid admitting it did anything wrong, said lawyers following the case.
Jon S. Corzine, the former chairman and chief executive officer of MF Global Holdings Ltd., told lawmakers he “never gave any instructions to misuse customer funds” and didn’t give orders that could be misconstrued.