MF Global trustee sees possible claims vs Corzine 06/04 09:25 AM NEW YORK, June 4 (Reuters) - The trustee liquidating MF Global Holdings Ltd ( MFGLQ:$0.036,0$-0.004,0-10.00%) broker-dealer said on Monday he sees possible civil claims against former Chief Executive Jon Corzine and other top executives for breach of duties to customers.
In a written report to the U.S. Bankruptcy Court in Manhattan, trustee James Giddens said he has been in discussions with lawyers for customers about legal action against MF Global ( MFGLQ:$0.036,0$-0.004,0-10.00%) management. The trustee said his report drew no conclusions about possible criminal liability.
Giddens also said that he was prepared to litigate against JPMorgan Chase & Co ( JPM:$31.93,00$-1.22,00-3.68%) , one of MF Global's ( MFGLQ:$0.036,0$-0.004,0-10.00%) main banks, if unable to reach a settlement within 60 days. The dispute centers on claims over the bank's role in the disappearance of an estimated $1.6 billion in MF Global ( MFGLQ:$0.036,0$-0.004,0-10.00%) customer funds.
MF Global ( MFGLQ:$0.036,0$-0.004,0-10.00%) filed for bankruptcy last October. (Reporting By Nick Brown and Jonathan Stempel; Editing by Gerald E. McCormick) |
