MF Global brokerage starts payouts

Former customers of MF Global’s bankrupt brokerage will recoup all $6.7bn they are owed following the completion of a payout that will begin today, its trustee said. Nearly 26,500 former commodities and securities customers of the MF Global brokerage will share in the payout, which will be made over the next several weeks, the trustee, James Giddens, said yesterday. The payout comes nearly two and a half years after the parent company once run by Jon Corzine filed for Chapter 11 bankruptcy protection.