MF Global Trustees: Funds Moved Improperly; Liability Of Directors Being Probed

MF Global Trustees: Funds Moved Improperly; Liability Of Directors Being Probed

WASHINGTON, D.C. - The Chapter 11 bankruptcy trustee and the trustee for the Securities Investor Protection Act (SIPA) litigation involving MF Global Holdings Ltd. (MFGH) told a Senate committee on April 24 that the collapse of MFGH was the result of the improper transfer of funds but also said their respective investigations into the liability of the company's directors was just beginning (In Re: MF Global Holdings Ltd., No. 11-15059, Chapter 11, S.D. N.Y. Bkcy.). See prior history, 2012 Bankr. LEXIS 1490, and 2012 Bankr. LEXIS 995.  

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