{"id":976,"date":"2011-11-16T19:38:31","date_gmt":"2011-11-16T19:38:31","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2011\/11\/mf_global_holdings_clients_una"},"modified":"2022-03-23T13:31:08","modified_gmt":"2022-03-23T18:31:08","slug":"mf-global-holdings-clients-una","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/mf-global-holdings-clients-una\/","title":{"rendered":"MF Global Holdings Clients Unable to Access Their Money Following Chapter 11 Bankruptcy"},"content":{"rendered":"

\t\t\t\tThe Wall Street Journal reports that in the wake of MF Global Holdings Ltd. filing for bankruptcy protection, about 33,000 of the securities firm’s clients are finding that they can’t access their cash until trustee James Giddens gives them permission. Giddens is the trustee overseeing the liquidation of MF Global Holdings’ broker-dealer unit, MF Global Inc.<\/p>\n

Giddens had asked court permission to move about 60% of the $869 million that has been frozen-that’s about $520 million. He is hoping that if the court says, then the distributions would soon follow. However, a spokesman for Giddens has warned that because of MF Global’s financial woes, customers might not be able to get all of their money back.<\/p>\n

MF Global Holdings sought Chapter 11 protection last month after a number of credit downgrades and a steep drop in its stock price. Some $600 million also appears to have gone missing. While this bankruptcy is not considered as big a debacle as that of Lehman Brothers Holdings, for traders, investors, and brokers that sold and bought derivatives via MF Global, the repercussions have been devastating. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Wall Street Journal reports that in the wake of MF Global Holdings Ltd. filing for bankruptcy protection, about 33,000 of the securities firm’s clients are finding that they can’t access their cash until trustee James Giddens gives them permission. Giddens is the trustee overseeing the liquidation of MF Global Holdings’ broker-dealer unit, MF Global […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752],"tags":[],"class_list":["post-976","post","type-post","status-publish","format-standard","hentry","category-financial-firms"],"yoast_head":"\nMF Global Holdings Clients Unable to Access Their Money Following Chapter 11 Bankruptcy — Investor Lawyers Blog — November 16, 2011<\/title>\n<meta name=\"description\" content=\"The Wall Street Journal reports that in the wake of MF Global Holdings Ltd. filing for bankruptcy protection, about 33,000 of the securities firm's — November 16, 2011\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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