View this article online: https://www.claimsjournal.com/news/international/2012/05/02/206057.htm
Trading in recently bankrupt MF Global UK claims has finally begun.
London-based Consero Capital, a fully independent specialist broker in the secondary market, reports it is now actively organizing bids for a variety of customers.
Protracted litigation relevant to claims on client monies held by investors outside of the UK is one of a number of complex issues requiring clarification and settlement before customers claims can be finalized.
The litigation brought forward by a few claimants with significant and complex positions is one of a number of issues requiring settlement before a total pool of available money is defined and made available.
For some clients of MF Global UK however, particularly those with straightforward positions already classified and agreed, this lengthy delay could prove unacceptable businesswise and a more immediate liquidity solution needs to be identified.
The written confirmation by the appointed liquidators, KPMG, of the specific status of customer claims (segregated vs non-segregated) is key to unlocking liquidity for claimants, enabling bidders to make a firm bid and sellers to refocus on their core trading business.
Source: Consero Capital