KPMG Inc. was appointed trustee in bankruptcy of the estate of MF Global Canada Co. (the "Trustee") on November 4, 2011 pursuant to an Order of the Ontario Superior Court of Justice (In Bankruptcy and Insolvency) (the "Court")
The first meeting of creditors will be held on March 6, 2012 at 10 a.m. Please refer to the Notice of Bankruptcy and First Meeting of Creditors below under Notices for additional information.
On January 27, 2012, the Trustee received an order from the Court (the "Claims Process Order") approving the process for calling, adjudicating and barring any Residual Net Equity Claims (as defined in the Claims Process Order) and calling, reviewing and adjudicating Creditor Claims (as defined in the Claims Process Order).
Customers of MFGCC
On or before February 17, 2012 the Trustee will be mailing a package (the "Customer Claims Package") to all known customers of MFGCC, including those futures (commodities) and equity customers whose accounts were transferred to RBCDS and foreign exchange customers. If you do not receive your package by February 24, 2012, please contact the Trustee via email at mfglobalcanada@kpmg.ca. Please provide your name, company name (if applicable), account number(s) and mailing address in the email.
Please read the information in the Customer Claims Package very carefully. Different packages are being sent to customers depending on whether they traded in retail online or corporate foreign exchange, equities or futures (commodities). Once you have received and read your packages, please contact the Trustee with any queries via email at mfglobalcanada@kpmg.ca.
Creditors of MFGCC
On or before February 17, 2012 the Trustee will be mailing the Creditor Claims Package to creditors identified from the books and records of MFGCC. The Creditor Claims Package includes a proof of claim form and the Notice of Bankruptcy and First Meeting of Creditors.
Customer Representative Counsel
The Claims Process Order also extended the deadline for notifying the Customer Representative Counsel and the Trustee to "opt out" of representation by the Customer Representative Counsel from January 31, 2012 th February 29, 2012.
Former MFGCC customers in the equity and futures businesses:
Your income tax slips/forms for activity up to the date of transfer to RBC DS (on or about November 17, 2011) will be mailed by the end of February 2012 by the Trustee (if you had received your slips from MFGCC in the past) or Fidelity Clearing Corporation (if you had received your slips from Fidelity in the past). Income tax slips/forms arising from activity after the transfer of your account to RBC DS will be supplied by RBC DS and/or your new financial institution under Canada Revenue Agency's Regulatory Deadlines (end of February for most slips/forms but Income Trusts/Limited Partnership Units slips are normally issued in March).
Former MFGCC customers in the Retail online Foreign Exchange business:
The Trustee is working with FXCM, the foreign exchange website provider for MFGCC, to arrange to maintain the Retail FX website information until about mid-April 2012.
The Trustee has filed its fifth report with the Court and a copy of the motion materials are included below in the section "Court Materials". The fifth report deals with the claim of MF Global Inc., the U.S. related entity, in the bankruptcy of MFGCC in Canada. The hearing date of the motion has not as yet been scheduled.
The Trustee has received several new mailing addresses from both the corporate and retail foreign exchange clients of MFGCC (the "FX Clients"). The Trustee will be reissuing cheques on January 31, 2012 to those FX Customers who have sent in new address. If you are an FX Client and have not received your cheque regarding the payment of your net equity in your foreign exchange account and have not already confirmed your address with the Trustee, please send a confirming email for your address to mfglobalcanada@kpmg.ca.
In November 2011, pursuant to the Transfer Agreement, your equity account was transferred to RBC Dominion Securities ("RBC DS"). In most cases, RBC DS has been able to finalize arrangements with former MFGCC clients to open accounts with RBC DS or transfer to another financial institution; or to liquidate the account and send cash proceeds to the clients.
If you have not already been in contact with RBC DS to finalize arrangements for the operation or transfer of your equity account, please do so as soon as possible. If you fail to complete arrangements with RBC DS on or before January 27, 2012 the status of your account may change without further notice to you and fees may be charged to your account. A copy of the proposed fees from RBC DS is attached below as a pdf document with the name “RBC-Admin-Fee-Schedule” under the section "Trustee Notices".
In order to make arrangements with RBC DS regarding your account, please contact Wanda McIsaac of RBC DS at (416) 842-7272 or wanda.mcisaac@rbc.com