UNITED STATES BANKRUPTCY COURT 

SOUTHERN DISTRICT OF NEW YORK

In re 

MF GLOBAL INC., 

Debtor. 

Case No. 11-2790 (MG) SIPA 

 TO 

ESTABLISH PARALLEL CUSTOMER CLAIMS PROCESSES AND 

RELATED RELIEF 

Upon the 

establishing parallel claims processes for commodity futures customer and securities customer 

claims; (2) approving the form and manner of the publication and mailing of the notice of 

commencement of this proceeding; (3) specifying procedures and forms for the filing, 

determination, and adjudication of claims; (4) fixing a meeting of customers and other creditors; 

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 and due and 

proper notice of the Application having been provided; and it appearing that no other or further 

notice need be provided; and upon consideration of the various objections (collectively, the 

upon the record of the Hearing, and all the proceedings had before the Court; and the Court 

having found and determined that the relief sought in the Application is in the best interests of 

the Debtor, its estate, securities customers, commodity futures customers, other creditors, and all 

 

1. Terms not defined herein shall have the meaning used in the Application. 

         

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parties in interest, and that the legal and factual bases set forth in the Application establish just 

cause for the relief granted herein; and after due deliberation and sufficient cause appearing 

therefore, it is: 

ORDERED that the Application is granted; and it is further 

ORDERED that the notice of commencement attached as Exhibit 4 (A) to the 

mination of claim appearing as 

Exhibit 4 (B, C, D, E, and F) to the Reply be, and they hereby are, authorized and approved; and 

it is further 

ORDERED that the Trustee shall have the authority, on the advice and consent of 

the Securities Investment Protecti

further 

ORDERED that the Trustee shall cause the Notice of Commencement, 

substantially in the form attached to the Reply as Exhibit 4 (A), to be published no later than 

December 2, 2011 in all editions of The New York Times, all editions of The Wall Street Journal, 

all editions of The Financial Times, and all editions of The Chicago Tribune; and it is further 

ORDERED that the Trustee shall cause documents substantially in the form of 

Exhibit 4 (A, B, C, and D) to the Reply to be mailed to persons who, as identified from the 

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futures customers, or general creditors, on or before December 2, 2011, and finding that such 

mailing complies with SIPA § 78fff-2(a)(i) and Bankruptcy Code § 765(a) and 17 C.F.R. 

§ 190.02(b)(4); and it is further 

         

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ORDERED that the Trustee shall cause documents substantially in the form of 

Exhibit 4 (A, B, C, and D) 

www.mfglobaltrustee.com, for download, no later than the day after the date of entry of this 

order; and it is further 

ORDERED that the Trustee shall have the authority, as provided in section 78fffbooks and records, or are otherwise establis

orders of this Court; and it is further 

ORDERED that nothing in this order shall prevent the Trustee from agreeing to 

procedures for intercompany claims as the Trustee may determine is in the best interests of the 

MFGI estate; and it is further 

ORDERED that, with respect to securities customer net equity claims, the Trustee 

shall have the authority to satisfy claims out of moneys made available to the Trustee by SIPC 

notwithstanding the fact that there has not been any showing or determination that there are 

sufficient funds of the Debtor available to satisfy such claims; and it is further 

ORDERED that, with respect to securities customer claims relating to, or 

securities customer net equities based upon, securities of a class and series of an issuer which are 

ascertainable from the books and records of the Debtor or are otherwise established to the 

satisfaction of the Trustee, the Trustee shall have the authority to deliver securities of such class 

and series, if and to the extent available to satisfy such claims in whole or in part, with partial 

deliveries to be made pro rata to the greatest extent considered practicable by the Trustee; and it 

is further 

         

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ORDERED that the Trustee shall implement the procedures prescribed in 17 

C.F.R. § 190.08 for allocation and distribution of commodity futures customer property, to 

and records, or are otherwise established 

ORDERED that the Trustee shall use the following procedure for those securities 

customer claims, as defined in SIPA, and commodity futures customer claims, as defined in the 

Commodity Broker Liquidation Provisions and the Part 190 Regulations, which are not allowed 

as filed: 

a. The Trustee will notify the claimant that the Trustee 

disallowed in whole or in part or has otherwise not 

been approved for satisfaction as filed. Notification 

shall be in a form similar to the Notice of 

Determination of Claim, attached as Exhibit 4 (D) 

to the Reply. 

b. The claimant shall file a written opposition to the 

instructions included 

determination. The claimant shall file the written 

opposition with the Bankruptcy Court in accordance 

counsel, Hughes Hubbard & Reed LLP, One 

Battery Park Plaza, New York, NY 10004, 

Attention: MFGI Hearing Request, within thirty 

days of the date on which the Trustee mailed his 

determination. The request shall include: (i) the 

claim number; (ii) a detailed statement of the 

determination; (iii) copies of any document or other 

writing upon which the claimant relies; and (iv) 

mailing, phone, and email contact information for 

the claimant. 

c. The Trustee shall, within 120 days of the date on 

which the claimant filed a written opposition to the 

T

the Court to set a time and date for a status 

         

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conference regarding the claim determination 

dispute or to move to uphold his determination of 

the claim. The Trustee shall, upon his motion to 

uphold the determination, ask the Court to set a time 

and date for a hearing and shall notify the claimant 

in writing of the time, date and place of the hearing. 

If within 120 days of the date that the claimant filed 

a written opposition, the Trustee does not either (i) 

request a status conference, or (ii) file a motion to 

uphold the determination, the claimant may then 

move the Court to set a time and date for a hearing 

on the claim determination dispute. 

Notwithstanding the procedures outlined herein, the 

claimant and the Trustee may stipulate to informally 

resolve their dispute and/or any extensions of any of 

the foregoing timeframes without further leave of 

the Court. Moreover, for avoidance of doubt, 

nothing in these procedures shall preclude the 

Trustee from moving the Court earlier. 

 

d. If a claimant is aggrieved by the determination of 

to uphold such determination, or if the Trustee 

fails to timely move for a status conference or to 

uphold his determination, as set forth in subsection 

(c) above

hearing, shall be afforded the opportunity to have 

the matter heard by the Court as a contested matter 

under Rule 9014 of the Bankruptcy Rules. Prior to 

 to uphold his 

a hearing, no discovery or other motion practice 

claim or facts giving rise to such determination, 

absent prior Court approval. 

e. If a claimant fails to file a written opposition within 

determination in accordance with the procedures 

fails to appear at a scheduled hearing, then the 

termination shall be final. 

ORDERED that the Trustee shall have the authority to compromise and settle any 

customer claim at any time, as appropriate, without further order of this Court and all parties to 

         

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this proceeding are directed to cooperate with the Trustee to the maximum extent possible to 

achieve swift resolution of claims where possible; and it is further 

ORDERED that any claim of a securities customer for net equity under SIPA 

which is received by the Trustee after the expiration of a sixty-day time period beginning on the 

date of publication of the Notice of Commencement need not be paid or satisfied in whole or in 

part out of customer property, and, to the extent such claim is satisfied from monies advanced by 

SIPC, it shall be satisfied in cash or securities (or both) as the Trustee determines is most 

economical to the estate; and it is further 

ORDERED that based on the December 2, 2011 mailing date for the Notice of 

Commencement, the bar date for the claims of commodity futures customers is January 31, 2012, 

the bar date for receiving the maximum possible protection for securities customer claims under 

SIPA is January 31, 2012, and the bar date for all claims is June 2, 2012;2

 and it is further 

ORDERED that claims against the Debtor in this proceeding shall be filed with 

the Trustee electronically online at www.mfglobaltrustee.com, or sent to the Trustee via certified 

cy Solutions, 

LLC at: (i) for delivery via first class mail, MF Global Inc. Claims Processing Center, c/o Epiq 

Bankruptcy Solutions, LLC, P.O. Box 3656, Portland, OR 97208-3656; or (ii) for delivery via 

overnight courier or hand delivery, MF Global Inc. Claims Processing Center, c/o Epiq 

Bankruptcy Solutions, LLC, 10300 SW Allen Blvd., Beaverton, OR 97005; and it is further 

 

2. For the avoidance of doubt, even if the mailing of the Notice of Commencement and related claims filing 

information occurs prior to December 2, 2011, the January 31, 2012 and June 2, 2012 bar dates So Ordered by 

the Court will remain in full force and effect. 

         

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ORDERED that a meeting of customers and creditors will take place on January 

12, 2012 at 10:00 a.m., at the New York Marriott Downtown, 85 West Street, New York, NY 

10006; and it is further 

ORDERED that the Trustee shall file his first report pursuant to SIPA § 78fff-1(c) 

within six months after publication of the Notice of Commencement, and shall file interim 

reports at least every six months thereafter, and shall file status updates regarding 

implementation of this Order every sixty (60) days from the date of entry of this Order, but such 

status updates shall not be duplicative of interim reports. 

Dated: November 23, 2011 

New York, New York. 

_____/s/Martin Glenn_______ 

 MARTIN GLENN 

United States Bankruptcy Judge 

         

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