KPMG expects increased payments to some MF Global UK clients
LONDON Jan 8 (Reuters) - KPMG, the administrator to collapsed broker MF Global UK said on Tuesday it expected to be able to increase payments to clients with segregated accounts to around 60 cents in the dollar, up from 26 cents.
This followed an agreement between the British affiliate and parent company MF Global Holdings in December, and is conditional on a number of factors, including approval by the U.S. Bankruptcy Court.
The administrator also said the agreement meant it expected to make an initial payment of around 20 pence in the pound to unsecured creditors.
- Female Yahoo executive sued for sexual harassment
- Gaza toll passes 100; Israel to counter rockets 'with all power' |
- U.S. Navy maintains grounding order for F-35 fighter jets
- Ukraine says rebels will pay as missiles kill 23 soldiers |
- German suspect was in contact with State Dept not U.S. spies: officials