2nd Circuit: Sapere May Not Direct Payments To MF Global's Commodities Customers

2nd Circuit: Sapere May Not Direct Payments To MF Global's Commodities Customers

NEW YORK - A panel of the Second Circuit U.S. Court of Appeals on Dec. 6 affirmed a district court's ruling that a creditor in the Chapter 11 bankruptcy proceeding of MF Global Holdings Ltd. (MFGH) did not have jurisdiction to direct the administration of the bankruptcy estate as it related to securing payment for commodities customers (Sapere Wealth Management v. MF Global Holdings Ltd., No. 12-4254, Chapter 11, 2nd Cir.; 2013 U.S. App. LEXIS 24267).

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