Former Bermuda Firm Files For Bankruptcy
A rescue effort for one-time Bermuda company MF Global has landed in a US bankruptcy court, “The Wall Street Journal” is reporting.
The ailing brokerage firm run by former New Jersey Governor Jon Corzine, filed for bankruptcy protection in a New York court on Monday [Oct.31].
MF Global Holdings listed more than $41 billion in assets in a first bankruptcy filing. The company listed about $39.7 billion in estimated liabilities.
“The Journal” also is reporting MF Global has ended discussions with Interactive Brokers over buying pieces of MF Global.
In November MF Global relocated its corporate base to the US from Bermuda as Washington planned an overhaul of the domestic derivatives industry.
