November 1, 2011 / 12:51 PM / 8 years ago

KPMG says closing out MF Global UK client positions

LONDON, Nov 1 (Reuters) - Accountancy firm KPMG, appointed administrators to collapsed brokerage MF Global’s UK business, said on Tuesday it was working hard to close out client positions, expressing confidence clients would see their money back.

“It’s still a large number. It’s still billions,” Richard Fleming, KPMG’s head of restructuring, told Reuters in an interview.

It was unclear when the job would be done, Fleming said.

“We’ll know a lot more at the end of the day,” he said.

Fleming also said he was confident MF Global’s clients would see their money back.

“Our strategy this morning has been ... where we have clients whose position is reconciled, and are due funds, then that money will flow,” he said.

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