China

Statement from the Provisional Liquidators, MF Global Hong Kong Limited (in Liquidation) ("MFG-HK") and MF Global Holdings HK Limited (in Liquidation) ("MFH") 

This is an update to clients and creditors following our statement on 28 September 2012.

 

Decision from the Court of First Instance of High Court (the 'Court'):

 

On 4 October 2012, the Honorable Mr. Justice Harris handed down his decision in respect of the applications heard on 11 September 2012 for both MFG-HK and MFH. In his decision, the Honorable Judge confirmed that:

 

  • the liquidations will be converted into Creditors’ Voluntary Liquidations;
  • the joint and several provisional liquidators (‘PLs’) will be appointed as the joint and several liquidators; and
  • that Committees of Inspection will be constituted in accordance with the unanimous views of the creditors and contributories.

 

As such, the PLs' solicitors and the Official Receiver are in the process of obtaining formal orders which reflect the decision of the Court.

 

The PLs would like to inform all clients and creditors that until such time the Orders have been formally made by the Court, we remain the joint and several provisional liquidators. Further, meetings of the relevant committees of inspection cannot be convened until such time as the Orders are made by the Court. We will provide a further update at that time as soon as the Orders are made.

 

If you have any questions, please contact Ms Jasmine Lai on +852 2913 2539 or email mfglobalhk@kpmg.com with any enquires.

 

 

 

 

For and on behalf of MFG-HK (In Liquidation) and MFH (In Liquidation)

 

Patrick Cowley

Joint and Several Provisional Liquidator

(The Joint and Several Provisional Liquidators act as agents of MFG-HK and MFH without personal liability)