IntercontinentalExchange Inc on Thursday added its voice to an anguished chorus of commodity traders calling for MF Global’s bankruptcy court to release billions of dollars in cash frozen in their accounts.
Unable to say when the search for some $600 million of missing customer funds might conclude, the trustee overseeing the liquidation of MF’s brokerage moved to deflect mounting pressure to give back more of that collateral, saying he could not yet legally release individuals’ funds.
But customer payouts may not be far off. In a statement released Thursday evening, a lawyer for Trustee James Giddens said his legal team will seek court approval on an expedited claim submission process for customers.
via MF Global fund frustration grows, CFTC confirms probe | Reuters.
