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APR 05, 2013 - Yahoo! News

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Bankruptcy judge approves MF Global's liquidation plan

By Nick Brown NEW YORK (Reuters) - MF Global on Friday won court approval of a plan to liquidate its assets, pay back creditors and end the $40 billion bankruptcy that rocked the financial world in 2011. The commodities brokerage, run by former New Jersey Governor Jon Corzine, collapsed after investors were spooked by its exposure to about $6.3 billion in European sovereign debt. The approval marked a major step in ending the massive Chapter 11 filing, as MF Global is now able to implement the plan and pay creditors. Judge Martin Glenn approved the plan at a hearing in U.S. ...

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