China

Statement from Liquidators of MF Global HONG Kong Limited (In Creditors' Voluntary Liquidation) ('MFG-HK') 

This is an update to clients and creditors following our statement on 14 November 2012.

 

Settlement Agreement signed with MF Global Inc ('MFGI')

 

The Liquidators are pleased to report that they have executed a settlement agreement with MFGI this week for the client related claims filed by MFG-HK against MFGI. MFGI has now agreed to admit those MFG-HK omnibus commodities customer and securities customer claims relating to MFG-HK's underlying third party customers.

 

We understand from MFGI that MFG-HK is expected to receive a distribution of 80% for the domestic futures account claims and 18% for the foreign futures account. We will update the clients and creditors further about the timing of these distributions to MFGHK, once we have received confirmation of payment from MFGI.

 

If you have any questions, please contact Mr Samuel Wan on +852 2140 2306 or email mfglobalhk@kpmg.com with any enquires.

 

For and on behalf of MFG-HK (In Creditors' Voluntary Liquidation)

 

 

 

Patrick Cowley

Joint and Several Liquidator

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