The Liquidators of MFG-HK are pleased to announce that they have filed an application with the Hong Kong Court (“Court”) in November 2013 to obtain the Court’s authority to pay a fourth interim distribution to Qualifying Clients. The amount proposed for the fourth interim distribution is a maximum amount of approximately HK$110 million, or the equivalent of 9 cents in the dollar for each dollar of current claims to the Client Money. This will bring the level of cumulative distributions to Qualifying Clients up to a total of 94 cents in the dollar. The actual payment amount, if approved, will depend on the status of asset recoveries.
At the same time as the hearing of this application, the Liquidators’ have also taken the opportunity to seek directions from the Court in respect of an authority to negotiate and enter into settlement agreements with the MF Global Affiliates and a third party broker, so as to enable the Liquidators to complete its asset recovery.
The hearing date for this application has been set for 6 March 2014. The Liquidators will keep you informed of the progress of the application. In the meantime, if you have any questions about the application, please write to the Liquidators at:
MF Global Hong Kong Limited (In Creditors' Voluntary Liquidation)
c/o 8/F, Prince's Building
10 Chater Road, Central
Or by email: email@example.com
Alternatively you can contact Mr. Samuel Wan on +852 2140 2306 with any enquiries.
For and on behalf of MFG-HK (In Creditors' Voluntary Liquidation)
Joint and Several Liquidator
(The Joint and Several Liquidators act as agents of MFG-HK without personal liability)