{"id":980,"date":"2011-11-26T19:20:22","date_gmt":"2011-11-26T19:20:22","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2011\/11\/mf_global_shortfall_may_be_mor"},"modified":"2022-09-19T09:54:02","modified_gmt":"2022-09-19T14:54:02","slug":"mf-global-shortfall-may-be-mor","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/mf-global-shortfall-may-be-mor\/","title":{"rendered":"MF Global Shortfall May Be More than $1.2B, Says Trustee"},"content":{"rendered":"

\t\t\t\tAccording to trustee James Giddens, MF Global Inc. may have a greater than $1.2B shortfall in US segregated customer accounts. Giddens has been tasked with overseeing the failed company’s liquidation.<\/p>\n

Previously, the estimated shortfall had been $593 million. Now, however, that estimate has likely changed. Giddens says that it will take $1.3 billion to $1.6 billion dollars to distribute 60% of what should have been found in the accounts of customers. He has noted that how much of the assets he can access is not the same as the shortfall amount. Giddens is reportedly close to exhausting the money that he does control.<\/p>\n

$5.45 billion in money from customer accounts were frozen on the last day of October, one day after an MF Global unit reported that client funds (Commodity Futures Trading Commission rules say these should have been segregated) had experienced a material shortfall. Parent company MF Global Holdings Inc. then sought bankruptcy protection.<\/p>\n

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

According to trustee James Giddens, MF Global Inc. may have a greater than $1.2B shortfall in US segregated customer accounts. Giddens has been tasked with overseeing the failed company’s liquidation. Previously, the estimated shortfall had been $593 million. Now, however, that estimate has likely changed. Giddens says that it will take $1.3 billion to $1.6 […]<\/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":[3752,4009],"tags":[],"class_list":["post-980","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-mf-global"],"yoast_head":"\nMF Global Shortfall May Be More than $1.2B, Says Trustee — Investor Lawyers Blog — November 26, 2011<\/title>\n<meta name=\"description\" content=\"According to trustee James Giddens, MF Global Inc. may have a greater than $1.2B shortfall in US segregated customer accounts. 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