JPMorgan, MF Global Inc trustee reach settlement
March 19 (Reuters) - JPMorgan Chase & Co has agreed to pay $100 million to MF Global Inc as part of a settlement reached with the trustee liquidating the broker-dealer unit of MF Global Holdings, a court filing showed.
As part of the settlement, JPMorgan will also return more than $29 million in the brokerage's funds held by the bank, while releasing claims on $417 million that was previously returned to the trustee James Giddens, who is working on recovering money lost by the customers.
The case is In re: MF Global Inc, case No. 11-2790, in U.S. Bankruptcy Court, Southern District of New York.
- Target stores' customers hit by major credit card attack
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge
- U.S. prosecutor defends treatment of Indian diplomat |
- Fed cuts bond buying in first step away from historic stimulus |