The decision is today, so we will all find out. The pertinent bit is this from the AFR and credit to John Kehoe who wrote it, link http://www.afr.com/p/national/mf_global_court_ruling_may_not_be_38HPQDhBU3wGwu5jO4RFgI,
quote,
"Mr Campbell said there was a prospect of CFD clients appealing.
"A CFD party, MFG Singapore, has claimed it can trace its share of funds to separate bank accounts which no other client had funds in and that the money is being held in trust for it.
Another possible appeal could centre on whether the $46 million recovered from MFG Australia’s prime broker, Deutsche, is client money or funds that belong to MFG’s corporate entity to which unsecured creditors and staff would have claims.
“I don’t know whether it was client money or corporate money,” Mr Campbell said.
“If it’s corporate money then it becomes MF Global Australia’s and the CFD clients miss out on direct access to those funds and have to rank with all the other creditors.”
“It could have a huge impact for CFDs,” Mr Campbell said." **
The way I see it is everybody had their money in trust with MF Global and I'm sure most people could identify how much money they put in as well. So nothing special about MFG Global Singapore. This is all very messed up and stinks!!!
