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MF Global Brokerage’s Wind-Down Fees May Hit $100 Million a Year - ForexSQ

Posted by Forexsq 179 days ago (http://www.businessweek.com)
img Forex Brokers News - Fees for liquidating the MF Global Inc. broker-dealer may reach $100 million in a year, based on lawyers’ estimates and costs to wind down two other brokerages, Lehman Brothers Inc. and Bernard Madoff’s firm.

MF Global trustee James Giddens, whose official rate in the Lehman case is $891 an hour, and his law firm are supervising 100 Deloitte LLP consultants, 60 Ernst & Young LLP forensic accountants and consultants, and 190 former MF Global employees, according to a Nov. 20 statement. They’re working with the U.S. Justice Department, securities and commodities regulators, exchanges and clearing houses to transfer accounts and investigate missing customer money.

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