This is an update following our Statement to clients on 03 February 2012.
As mentioned in the previous update, on 11 January 2012, the High Court of Hong Kong S.A.R. made orders for the winding up of MF Global Hong Kong Ltd ('MFG-HK').
Accordingly, pursuant to section 194 of the Companies Ordinance, the Provisional Liquidators ('PLs') have summoned the first meeting of creditors of MFG-HK, which will be held at the Auditorium, Duke of Windsor Social Service Building, 1st Floor, No.15 Hennessy Road, Wan Chai, Hong Kong at 2:30 p.m. on Thursday 22nd March 2012.
Former clients of MFG-HK are entitled to file claims in respect of the funds owed to them, and will be allowed to attend the creditors' meeting.
The PLs have issued a notice to former clients of MFG-HK in respect of the creditors' meeting, and have also posted a copy of the notice on the KPMG and MFG-HK website.
The PLs are in the process of preparing an application to seek an Order from the Court for a second interim distribution.
Any client which has not yet completed and submitted the claim form previously provided (see link below), will be required to do so before they can receive any further distributions, if and when the Order is granted by the Court.
http://www.kpmg.com/cn/en/PressRoom/Documents/MF-Global-Claim-Form-20111205.pdf (PDF 74KB)
The reconciliation of MFG-HK's clients' positions on the Hong Kong, Australian, Japanese, Korean and Singaporean exchanges has now been completed.
However, a significant number of the open positions held by MFG-HK clients as at 28 October 2011 were traded via MF Global UK Limited ('MFG-UK') and Bank of New York Mellon Clearing, LLC. Given the volume and complexity of the data relating to these US and UK positions, not all of which is yet in the PLs' possession, the reconciliation process in respect of clients' US and UK positions is ongoing. The PLs are seeking to expedite this process, but note that the receipt and reconciliation of this data is a critical element in the final determination of clients' claims against the client monies held by MFG-HK.
Clients of MFG-HK are encouraged to contact Ms Jasmine Lai on +852 2913 2539 or email email@example.com you have any enquires.
For and on behalf of MFG-HK (In Liquidation)
Joint and Several Provisional Liquidator
(The Joint and Several Provisional Liquidators act as agents of MFG-HK without personal liability)