The trustee liquidating MF Global Holdings Ltd’s broker-dealer unit won court permission to distribute $520 million of cash, providing relief to customers whose accounts have been frozen since the brokerage went bankrupt.
U.S. Bankruptcy Judge Martin Glenn approved the payout at a hearing on Thursday in Manhattan. The payout is 60 percent of the $869 million that was frozen since Oct. 31 across commodity customer accounts that contained only cash, the trustee James Giddens has said.