November 1, 2011 / 12:06 PM / 6 years ago

MF Global Singapore unit appoints KPMG to oversee liquidation

SINGAPORE, Nov 1 (Reuters) - MF Global’s Singapore unit said on Tuesday it has appointed KPMG to oversee the winding down of the company.

The brokerage, which filed for bankruptcy in the United States on Monday, said that the liquidators would try to recall all of its customers’ assets wherever they were situated.

“The provisional liquidation of the company does not detract from the proprietary rights of its customers, particularly in respect of monies already placed in segregated funds,” it said in a statement.

Singapore Exchange (SGX) said in a separate statement that the appointment of KPMG does not affect the transfer of customers’ derivatives positions on SGX from MF Global to other clearing members.

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