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Global Depression, Sovereign Default and Hyperinflation Are Top “Extreme Risks
The MF Global bankruptcy increases the risk of contagion. It is the seventh largest bankruptcy in US history and there are fears that it could potentially lead to a Lehman Brothers style systemic crisis. Thousands of MF Global clients including
Updated: 11/01/2011 02:17P
European debt crisis: MF Global files for bankruptcy protection
The bankruptcy petition includes a list of MF Global's 50 biggest creditors. JPMorgan Chase Bank stands out as the largest creditor, owed just over $1.2bn. Various different Deutsche Bank units are owed a total of $1.015bn. Interestingly, CNBC is one
Updated: 11/01/2011 02:17P
Bastrop Couple Indicted for Bankruptcy Fraud
HOUSTON—Jimmy W. Sissom and Susan P. Sissom, of Bastrop, Texas, have been charged in a four-count indictment alleging conspiracy, bankruptcy fraud, making false oaths and false declarations in bankruptcy proceedings, United States Attorney Kenneth
Updated: 11/01/2011 02:15P
More than 700 staff face redundancy as broker goes bust
The company, a broker of commodities and derivative futures products, has filed for bankruptcy protection in the US, meaning its UK arm is to be wound down. It is understood that all 725 staff at London's Canary Wharf will eventually be made redundant
Updated: 11/01/2011 02:15P
Corzine's Not Smiling Now
It's bad enough that ex-guv Jon Corzine's MF Global filed for bankruptcy yesterday. Federal investigators also say there's money missing. Whether that's just sloppy bookkeeping or something worse is still uncertain, but none of it is good.
Updated: 11/01/2011 02:09P
Brokerage MF Global bankrupt as EU debt crisis strikes first blow
MF Global Holdings Ltd filed for bankruptcy protection after a tentative deal with a buyer fell apart. New York: Struggling US brokerage firm MF Global has filed for bankruptcy after confidence in the company was shattered by a string of losses from
Updated: 11/01/2011 02:07P
Report: MF Global Exec Admits to Using Client Money
The emergence of an investigation is the latest bad news for New York-based MF Global, which on Monday filed for the eighth largest bankruptcy in US history. At first as much as $950 million appeared to be missing -- spooking rival Interactive Brokers,
Updated: 11/01/2011 02:06P
NYSE Moves to Delist MF Global Stock
The New York Stock Exchange is moving to remove MF Global, the brokerage that filed for bankruptcy protection on Monday, from trading on the Big Board. According to a statement, NYSE Regulation Inc. determined MF Global is “no longer
Updated: 11/01/2011 02:05P
Judge says no to competing plans for the Tribune bankruptcy
The US Bankruptcy judge overseeing the bankruptcy case of Tribune has quashed both proposals for the reorganization of the Chicago-based media company. In his 126-page opinion, Judge Kevin Carey wrote that a settlement, "should be approved because it
Updated: 11/01/2011 02:02P
JPMorgan Seeks Lien on MF Global Assets to Cover Collateral
MF Global, which filed for bankruptcy with assets of $41 billion, has five operating accounts, all with JPMorgan. The bank may have a lien on the entire balance because of so-called setoff rights related to a credit line to MF Global where it acts and
Updated: 11/01/2011 02:01P
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