MF Global, the New York based broker-dealer, filed for
Chapter 11 bankruptcy protection yesterday. The commodities
and derivatives trading firm was run by former New Jersey
Governor Jon Corzine and had on it books more than
$6.3 billion of European sovereign debt securities, from
Italy and Spain.
After being forced to write down the value of its bond
holdings in adherence to last week's EU resolution, MF
Global filed for Chapter 11 on Monday in the U.S. Bankruptcy
Court for the Southern District of New York. The company's
two largest creditors ar JP Morgan Chase co. and Deutsche
Bank AG, according to court documents.
Sheila McKinney
