International law firm Weil, Gotshal & Manges LLP today announced that a $1.4 billion global settlement agreement has been reached between Richard Heis, Mike Pink and Richard Fleming, the Joint Special Administrators of MF Global UK Limited, and James W. Giddens, Trustee for the SIPA liquidation of MF Global Inc.
The global settlement agreement will benefit all clients and creditors of MF Global UK Limited, MF Global Inc. and MF Global Holdings Limited by providing certainty for the respective officeholders, avoiding the time and monetary cost of litigation, and allowing distributions to be made more quickly.
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