Highridge Futures Fund LP, a customer of the MF Global Inc. brokerage, said its $50 million account with the defunct company is “missing.”
James Giddens, the trustee liquidating the brokerage, has “failed and refused” to provide any information about the whereabouts of the account, Highridge said in a filing today in U.S. Bankruptcy Court in Manhattan. Highridge asked the judge handling the case to order Giddens to locate and transfer the account, containing mostly cash and also unsettled commodity positions.
Highridge described itself in the filing as a registered commodity pool incorporated in Delaware, with a general partner that is an Illinois company.
Giddens has transferred about 38,000 commodity accounts to other firms, and said he plans to sell 330 securities accounts. Three transfers of collateral made and pending will give commodity customers about $4 billion of their assets, according to court filings.
“Highridge’s account was not among the accounts transferred,” the fund said. “This account is nowhere to be found.”