The Administrators are pleased to announce that, on 31 January 2013, the US Bankruptcy Court approved the conditional settlement agreement dated 22 December 2012 between MFG UK and MF Global Inc (MF Global Trustees and Administrators announce agreements).
US Bankruptcy Court approval was one of the conditions to the settlement agreement becoming unconditional. Further conditions remain outstanding and the Administrators will provide a further update on this website if and when those conditions are satisfied or waived and the settlement agreement becomes unconditional.
Once the settlement agreement becomes unconditional, the Administrators intend to make a further distribution to client money claimants and to pay an initial dividend to unsecured creditors. Please see the Administrators’ updated Illustrative Finance Outcome Statement – Effect of US Settlements in this regard.