Cases & Deals

MF Global obtains fast track confirmation of chapter 11 plan of liquidation

Client(s) MF Global Lender Group

Jones Day represented an ad hoc group of financial institutions holding more than $1.6 billion in claims in the chapter 11 bankruptcy cases of MF Global Holdings Ltd. and its related debtors. Jones Day and its client group proposed a global settlement of disputes among the three separate MF Global bankruptcy estates (the chapter 11 cases, the SIPA proceeding of MFGI, and a UK proceeding for the MFGUK subsidiaries) and filed a plan and disclosure statement to implement the proposed inter-company settlements and implement a plan of liquidation for the chapter 11 bankruptcy cases. The chapter 11 Trustee and the creditors' committee joined as co-proponents of the proposed plan which was confirmed, largely uncontested, within three months.