MF Global Inc. Trustee Initiates Final 95 Percent Distribution to Unsecured General Creditors

NEW YORK, Sept. 8, 2015 /PRNewswire/ -- James W. Giddens, Trustee for the liquidation of MF Global Inc. (MFGI), today initiated the final, cumulative 95 percent distribution on all non-affiliate, non-subordinated, allowed general unsecured creditor claims, by mail and other distribution methods. The final distribution on non-affiliate, non-subordinated, allowed general unsecured creditor claims totals approximately $40.9 million, which brings the total amount distributed to MFGI creditors to approximately $1.04 billion.

"I am very pleased to initiate the final distribution of the MF Global Inc. liquidation proceeding today," Giddens said. "When this distribution is complete, unsecured creditors will have received a near full recovery, while customers and secured creditors are already completely satisfied."

After the final unsecured creditor distribution is complete, the Trustee will have distributed over $8.1 billion to MFGI customers and creditors, including approximately:

• Customer claimants - $6.9 billion to cover 100 percent of allowed claims
• Secured, administrative and priority general claimants - $35 million to cover 100 percent of allowed claims
• Non-Affiliate unsecured general claimants - $219 million to cover 95 percent of allowed claims
• Affiliate unsecured general claimants - $905 million on their allowed non-subordinated unsecured claims

These remarkable and unexpected results were achieved with the supervision and assistance of the Bankruptcy Court, the Securities Investor Protection Corporation, the Commodity Futures Trading Commission, several committees of the Senate and House of Representatives, regulators and other parties.

The results achieved do not diminish the importance of the actual segregations failure that led to MFGI's collapse. Claims against former officers, directors and other employees of MF Global, including former MF Global CEO Jon Corzine, are ongoing in the Multidistrict Litigation.

The Trustee is represented by Hughes Hubbard & Reed LLP.

The information in this statement does not apply to any other MF Global entity, including separate insolvency proceedings involving the parent company, MF Global Holdings Ltd.

SOURCE Office of the Trustee for the Liquidation of MF Global Inc.