Many introducing brokers have general unsecured claims against MF Global Inc. Such claims must be filed with the trustee by 11:59 PM Eastern Standard Time on June 2, 2012. The claim form can be downloaded in .pdf format from the trustee's website at www.mfglobaltrustee.com and may be filed either electronically by sending the form into the trustee's e-mail account at mfglobalclaims@epiqsystems.com or by mailing the form in to the address shown on the claim form. If the claim is sent to the e-mail address then the claimant should immediately receive a bounceback e-mail message indicating that the trustee received the e-mail. Although the bounceback e-mail message does not provide any information specific to the claim filed, in conjunction with the claimant's outgoing message the claimant can keep the bounceback message as a record that the e-mail with the filing was made in a timely manner.
Typical introducing broker claims that constitute general unsecured claims include commissions, security deposits not held in commodity customer accounts and contractually agreed payments of shares of customer account float earned. If there is a report from MF Global Inc. detailing an October 2011 payout due, an introducing broker claimant may use the report to calculate the amount of the general unsecured claim. The trustee has indicated that he will provide such a report to a claimant upon request if the report is available, although the trustee will not generate a report that does not already exist. Introducing brokers may request such reports by sending an e-mail to mfgitrustee@hugheshubbard.com, indicating that the message is to the attention of Erin Diers, and including the claimant's full legal name and office code and the report requested. If the introducing broker has a copy of the report from an earlier month, it will help the request process if the broker also provides the prior month's statement in the request. Responses to these requests can take time, so since the deadline is impending an introducing broker who wishes to request a report but has not yet done so should request the report immediately. If a broker does not have the report prior to the deadline, the broker should still file a timely claim that estimates the amount of the payout due.
Neal Stevens will be speaking at the NIBA Summer Conference along with Jennifer Sunu of the National Futures Association. They can be contacted at nstevens@srcattorneys.com and jsunu@nfa.futures.org respectively.
Neal R. Stevens
Of Counsel
nstevens@SRCattorneys.com
312 565.1045 tel (chi) | 212 334.7948 tel (nyc)
Schuyler, Roche & Crisham, P.C
www.SRCattorneys.com
