True... I read this article with mild relief that there is about $163M in cash held in MFGA - most likely in an Aus bank.
The article did mention:
"But only part of the company's assets were in cash, he said. ''The rest is made up of clearing accounts, instruments that are still on market and other organisations that owe money into Australia.''
This means only about 30-40% asset is held in cash. Don't know how this can be divided up btw creditors, client money and overseas MF Global arms, and whether overseas MF can touch this money? I have a feeling that all will have to reconcile with the parent book so everything get divided up equally.
