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The brokerage is not in bankruptcy, it is in receivership / liquidation by the SIPC with consent of the CFTC. We all better hope it stays that way.

If you do that they'll probably forward it to their attorneys. Maybe you would be better served getting someone with power of attorney and going into their offices, picking up the check, and walking to their bank to cash it.

Giddens will get his pound of flesh. The longer this takes, the more he makes, see Lehman Brothers: Giddens, in a court filing last month, said he has gathered some $20 billion in the Lehman case and his goal is to “make a substantial distribution on customer claims, and to make...

The reporting has been really sloppy throughout this. The equivalent to the Sentinel case is the missing funds, which may need to eventually come out of the bankruptcy settlement. I'm resigned to that. MF Global (brokerage) is not in bankruptcy, the parent company is. The thing to...

From the previous article: James W. Giddens, the trustee liquidating the MF Global brokerage, froze 150,000 customer accounts on Oct. 31, including 50,000 commodities accounts that he aims to transfer to other futures brokers. Customers will hear from their future brokers when the transfers...

I wonder if JP Morgan was using that as collateral and realized what kind of sh.. they'd be in if they now tried to hold onto it. So collateral becomes custodial ... and let's get the money back to the rightful owners.

An MF Global custodial account at JPMorgan contained about $658.8 million of client funds as of Oct. 31, according to one of the people, who declined to be identified because they weren’t authorized to speak publicly...

The secured creditors (or whoever got customer funds) need to ask themselves if they knew or should have known that the funds were the result of a fraudulent transfer. I doubt they want to open that can of worms. The bankruptcy court cannot allow a creditor to profit from the illegal...

It's like someone broke into your home and stole your TV. They get caught and declare bankruptcy. You will still get your TV back if it is found.

Accounts that aren’t transferred will be liquidated in an orderly fashion beginning Monday, Kobak said. (He is a lawyer for the trustee.) http://www.bloomberg.com/news/2011-11-02/mf-brokerage-has-commodity-customer-shortfall-of-600-million-cftc-says.html Does that mean they are...

Dorman Trading COO Confirms Will Receive Bulk Transfer Of MF Accounts http://online.wsj.com/article/BT-CO-20111103-717289.html

http://www.bloomberg.com/news/2011-11-03/mf-global-customer-emc-asks-judge-to-modify-transfer-order-to-allow-cash.html This is what I mentioned earlier about it being unclear if all cash accounts were going to be transferred. The language of the court order is ambiguous at best, talking...

89% is already available. The CME already has the margin money ($2.5 bill), and will automatically liquidate if they fall under. So no one should be underwater now, maybe wiped out.

Yes, but you can't take my segregated account and apply the money to another customers deficit. The exchange would have to go directly after the defaulting customer.

The creditors have no rights to the customer funds. The trustee is currently only working on the brokerage (customer fund) side. Customers probably have rights to funds fraudulently conveyed to other entities within MF. That is why I don't see the need to limit the distribution to 60% when...

What is a bit unclear is, if you have no positions, what happens. It seems like you would be best off being 100% margined, than they would have to transfer 100% of your position and equity.

Here is the link describing the order http://www.reuters.com/article/2011/11/02/mfglobal-hearing-idUSN1E7A11SI20111102 My previous calculation was close, this article says there is currently an 11% shortfall. So you would think they could distribute 89% of our funds. But, in a CYA move...

Whether or not futures funds are insured, I suspect we will get our money eventually. Right now, per news reports and court filings, the shortfall is about 12%. Personally, I would be happy to just get my 88% and move on. But I suspect that some of the bigger accounts would start a class...

If you check the trustee site (http://dm.epiq11.com/MFG/Project/default.aspx) you will find they have a motion pending to basically transfer open positions and minimum capital to support the position. They probably stopped that before because they realized they did not have the authority to do...

My broker uses MF Global for clearing. CME suspended all their (MF) trading this am. Anyone else trading through MF? Have you been able to trade - new clearing firm, etc.?