Payback time: MF Global Hong Kong to return client money
A court has so far approved the return of HK$500 million.
A Reuters report noted that the provisional liquidators of MF Global's Hong Kong business said they have won court approval to return HK$500 million of client money, around 40 percent of the total that was held by the brokerage.
“The payment is an interim one, with liquidators optimistic that customers of MF Global Hong Kong Limited will eventually get most of their money back,” said the report.
There was reportedly a total of around HK$1.2 billion customer money held by MF Global Hong Kong at the end of October.
View the report here.
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