#MFGlobal customers continue the battle for their property

It has been more than 5 months since MF Global filed for bankruptcy, but its old customers are yet still fight to get back their property.

Commodity Customer Coalition (CCC) was formed to organize MF Global’s customers in their efforts of fighting this battle. Back in November, CCC led the objection to JP Morgan’s super-priority protection over MF Global customers. It also helped facilitate CME Group to increase its financial guarantee to $550 million for the customers.

In March, some Wall Street firms were in a bidding war to buy over MF Global customer claims, which could potentially help recoup nearly the entire shortfall for those thousands of customers whose lives and businesses were derailed after $1.6 billion vanished in the collapse of the brokerage firm. But CCC is still working hard to even further protect the customers by arguing that there was evidence of fraud in the final days before MF Global went bankrupt.

Mr. James Koutoulas is the CEO of Typhon Capital Management and co-founder of CCC. He will join the speaker faculty at the Trading Congress Chicago 2012 conference and speak on the closing panel about “The future of the financial services industry – lessons learned and how to move forward”.