JPMorgan resolves gripe over MF Global payout plan
NEW YORK (Reuters) – MF Global and its creditors have resolved a dispute with JPMorgan Chase & Co over the value of intercompany claims within the bankrupt brokerage’s estate, eliminating what could have been a sticking point in effecting MF Global’s creditor repayment plan. The effect of the settlement, a result of court-ordered mediation, is essentially to enhance JPMorgan’s recovery, according to a statement on Tuesday from Louis Freeh, the trustee liquidating the broker’s estate. Under the deal, MF’s parent entity will subordinate $275 million of its $1. . . .
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