Mealey's Bankruptcy - MFGH's Counsel Opposes $10M Increase For Ex-Directors, Officers Defense Payments

NEW YORK - The law firm representing bankrupt MF Global Holdings Ltd. (MFGH) as the plan administrator under the company's plan of liquidation on May 12 sent a letter to the bankruptcy judge objecting to a motion seeking an insurance advancement of $10 million to pay the defense costs of former directors and officers of MFGH (In Re: MF Global Holdings Ltd., No. 11-15059, Chapter 11, S.D. N.Y. Bkcy.).

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