Bankruptcy Judge: Stay Lifted; Insurers May Pay MF Global Defense Costs

Bankruptcy Judge: Stay Lifted; Insurers May Pay MF Global Defense Costs

NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of MF Global Holdings Ltd. (MFGH) on April 30 declined to grant a stay requested by a group of wealth management companies that objected to the bankruptcy court's decision to lift the automatic stay and permit certain insurers to pay the defense costs of current and former employees of MFGH (In Re: MF Global Holdings Ltd., No. 11-15059, Chapter 11, S.D. N.Y. Bkcy.).

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