New York, NY (PRWEB) February 14, 2012
The federal court presiding over the SIPC liquidation of MF Global Inc. in the Southern District of New York has appointed Haynes and Boone, LLP to serve as special counsel to the SIPC trustee, James W. Giddens. United States Bankruptcy Judge Martin Glen made the appointment yesterday by granting a joint application filed by the trustee and the Securities Investor Protection Corp. (SIPC) last month.
According to the application, Haynes and Boone will advise the trustee on matters relating to MF Global’s outside auditors at PricewaterhouseCoopers LLP and may be asked to handle additional matters that are either not handled by the trustee’s counsel at Hughes Hubbard & Reed LLP because of actual or potential conflict of interest issues or that the trustee prefers be handled by Haynes and Boone as the case proceeds.
MF Global, Inc, is the broker-dealer unit of MF Global Holdings Ltd., which filed for protection under Chapter 11 on Oct. 31, 2011 as the eighth largest bankruptcy filing in U.S. history, according to a Nov. 2 Bloomberg article. By law, a broker-dealer unit cannot legally file for bankruptcy under Title 11. As a result, SIPC moved to begin an orderly liquidation under the Securities Investor Protection Act (SIPA) immediately following the parent company’s bankruptcy filing. SIPC maintains a reserve fund authorized by Congress to help securities customers of a failed brokerage firm such as MF Global, Inc.
Haynes and Boone is not involved in the Chapter 11 proceeding of the parent company.
Information about the case is available through the trustee’s website at http://www.mfglobaltrustee.com. All press inquiries should be directed to Kent Jarrell of APCO Worldwide in Washington, D.C. at (202) 230-1833.
The case is No. 11-2790 (MG) SIPA in the U.S. Bankruptcy Court, Southern District of New York.
About Haynes and Boone
Haynes and Boone, LLP is an international corporate law firm with offices in New York, Texas, California, Washington, D.C., Mexico City and Moscow, providing a full spectrum of legal services. With more than 525 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal. The firm has been named one of the "Best Corporate Law Firms in America" (Corporate Board Member Magazine, 2001-2011) and recognized as a “Top 20 Law Firm” for culture and for diversity with respect to both women and minorities (Vault, 2012). For more information, visit http://www.haynesboone.com.
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