MF Global Clients Urged to Submit Claims Before Jan. 31
The Trustee for the liquidation of MF Global Inc. and the Securities Investor Protection Corporation have urged former customers of MF Global Inc. to submit claims forms by the January 31, 2012 deadline.
Claims from former commodity futures customers and former securities customers of MF Global Inc. must be received by the Trustee by 11:59 PM on Tuesday, January 31, 2012 in order to receive maximum protection under the law and to be considered for future distributions of assets.
Former customers who have already received distributions or had accounts transferred still must file claims. All other claims against the estate of MF Global Inc., including general estate claims, must be received by the Trustee on or before June 2, 2012.
“It is in the interests of all former customers of MF Global Inc. to file a claim, and we strongly encourage them to do so as soon as possible,” said James W. Giddens, the Trustee for the liquidation of MF Global Inc.
“We understand the claims forms are complex because of regulatory and court requirements, and we recognize that they may be cumbersome to complete. Claimants should fill out the form to the best of their abilities. We serve as the advocates for customers and are committed to helping claimants through the claims process.”
The Trustee urged claimants to include accurate contact information to allow the Trustee’s office to get in touch with claimants if questions about information on claim forms arise. The Trustee noted that claimants will not be penalized for incomplete forms as long as claimants make a good faith effort to complete the forms.
By law, the Trustee cannot accept claims against the customer commodity and securities estates unless they are received by January 31, 2012.
“It is essential that MF Global investors file timely claims in order to ensure that they are eligible for relief in the firm’s liquidation. We encourage all investors to file as soon as possible,” said Stephen P. Harbeck, President of the Securities Investor Protection Corporation.
Regardless of the amount of property that has been returned to customers to date, every former MF Global Inc. customer is eligible to file a claim through the Trustee’s claims process. Forms and filing instructions are available on the Trustee’s website at mfglobaltrustee.com and have been mailed to all former customers of MF Global Inc.
Once all customer claims are received and analyzed by the Trustee’s office, the Trustee expects to have a more complete understanding of the MF Global Inc. estate, including the size of the potential segregation and compliance shortfalls.
At this time, the Trustee is focused on returning assets to customers through the claims process, winding down MF Global Inc.’s business in order to continue saving money for the estate, and identifying and attempting to recover additional assets.