Further to the update on 5 June 2014 concerning the Client Money Resolution Application, on 19 June 2014 the Administrators filed witness statements and an exhibit bundle in support of the proposed settlement for consideration at the approval hearing listed for 3 July 2014. These documents can be accessed by the following links:
Please note that the 15th witness statement of Richard Heis sets out revised percentage distribution outcome figures for the impact of the proposed settlement on the General Estate.
The remaining steps in seeking approval for the proposed settlement, per the order dated 1 May 2014 are:
(a) Any creditor or client of MFG UK who wishes to be represented at the substantive hearing must file and serve notice identifying the Order they will seek, together with any evidence in support, as soon as possible and in any event by 4.30 pm on 26 June 2014.
(b) The General Estate Administrator shall lodge an Application bundle at Court by 4.30 pm on 30 June 2014.
(c) The General Estate Administrator, the CMP Administrator and any creditor or client of MFG UK wishing to be represented at the Substantive Hearing shall lodge and exchange skeleton arguments by 4.30 pm on 30 June 2014.
(d) There will then be a substantive hearing on 3 July 2014 at which the CMP Administrator and the General Estate Administrator intend to seek the Court’s permission to enter into the settlement.
If any creditors or clients have any concerns about the proposed settlement, the Administrators strongly encourage them to contact the Administrators as soon as possible.
Further updates will be posted on this website as the settlement approval progresses. If you have further questions which are not addressed on the website, or would like hard copies of documents (free of charge) please email email@example.com or call +44 (0) 20 7785 0308 where a member of the Administrators’ staff will be able to assist.
For the latest updates from the special administrators of MF Global UK Limited please visit our dedicated page.
For all non-press enquiries on MF Global UK Limited please email the following:
Claim queries: firstname.lastname@example.org
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.
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