ConocoPhillips Says MF Global Trustee Cannot Claim $205M In Letters Of Credit

NEW YORK - ConocoPhillips Co., a creditor in the Securities Investor Protection Act (SIPA) 15 U.S.C.S. § 78aaa  litigation that arose in the wake of the Chapter 11 bankruptcy of MF Global Inc. (MFGI), on Aug. 3 moved for an order removing to a New York federal court the issue of how to resolve whether the trustee can recover for the bankruptcy estate $205 million in letters of credit ConocoPhillips provided MFGI (In Re: MF Global Inc., No. 11-2790, Chapter 11, S.D. N.Y. Bkcy.).

Access this news story on lexis.com®