Broker claims could hit $3bn

City A.M. Reporter
MF GLOBAL Holdings could have more than $3bn (£1.94bn) in claims against its former affiliates, according to Louis Freeh, the trustee overseeing the wind-down of the collapsed broker’s parent company.

Such claims would be the main source of recovery for creditors of the bankrupt MF Global parent, Freeh said in a 119-page report submitted to the US Bankruptcy Court in Manhattan. The report served as a status update on Freeh’s efforts to recover money belonging to the parent company’s estate.