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MF Global UK Ltd – Application received from the GTA

MF Global UK Ltd – CVA Supervisors’ update to creditors

Update relating to the appeal filed by the German Tax Authority dated 28 February 2018 against the rejection of its proof of debt by the Administrators.

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MF Global UK Ltd – CVA Supervisors’ update to creditors

Application received from the GTA

We refer to our update dated 30 July 2018 and revised Estimated Outcome Statement dated 31 May 2018 (“EOS”).  This update relates to the appeal filed by the German Tax Authority (“GTA”) dated 28 February 2018 against the rejection of its proof of debt by the Joint Special Administrators (the “GTA Appeal”).  As previously set out in the EOS, a directions hearing in respect of the GTA Appeal, and two other appeals, is due to be heard in October 2018 before the High Court of England (the “Directions Hearing”).

The Joint Special Administrators have received a further application from the GTA, dated 17 August 2018 (which is anticipated to be heard at the Directions Hearing) in relation to the appropriate jurisdiction for the resolution of certain claims between the GTA and MFGUK relevant to the GTA Appeal (the “GTA Jurisdiction Application”).  The Joint Special Administrators are reviewing the GTA Jurisdiction Application and the accompanying supporting documentation and will provide an update in due course.

Please note that creditors of MFGUK may request a copy of the GTA Jurisdiction Application from the Court.  If you have questions or concerns about the GTA Jurisdiction Application, please contact the Joint Special Administrators at mfglobalclaims@kpmg.co.uk.

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