JPMorgan, MF Global Inc trustee reach settlement

March 19 Tue Mar 19, 2013 11:02pm EDT

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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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