Current updates are not available. Earlier updates remain below for historical context and may no longer reflect the case’s current position.
Earlier updates
These updates were replaced by later case developments and may no longer reflect the current case.
Hearings·
MF Global Holdings Ltd., MF Global Finance USA Inc., and MF Global Holdings USA Inc. moved to approve a July 28 restructuring support agreement with Homer City Holdings LLC or its designee and supporting claimholders. The proposed transaction would monetize remaining U.K. claims and tax attributes, including NOLs exceeding $748 million at USA and $382 million at Finco, and target completion of the legacy liquidation by year-end 2026. Supporting holders represent more than 84% of Finco claims. RSA Approval MotionDkt. 2597
The RSA contemplates a $9 million parent expense loan, a $12.1 million common-equity purchase for approximately 31% of New HoldCo, and prearranged Chapter 11 cases for newly formed entities no later than September 1. Those cases would seek up to $5.25 million of investor DIP financing and provide $34.25 million of cash to Finco creditors and $5.92 million to USA creditors, plus contingent U.K. recovery and tax-sharing rights. The court has now noticed the RSA motion for an August 25 hearing, putting the proposed financing, creditor recoveries, and accelerated wind-down timetable before the court. Notice of HearingDkt. 2608
