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Jon Corzine

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Former MF Global CEO Corzine sued by trustee

Jon Corzine was sued by the bankruptcy trustee liquidating MF Global Holdings Ltd , who accused the former chief executive of engineering a high-risk business strategy that culminated in the commodities brokerage's destruction.Louis Freeh, the trustee, accused Corzine of breaching his duties to shareholders and failing to act in good faith, causing MF Global under his stewardship to lose well over $1 billion in value prior to its October 2011 bankruptcy."The company's procedures and controls for monitoring risk were lacking and in disrepair," Freeh said in a lawsuit filed Monday night in U.S. bankruptcy court in Manhattan. "Corzine engaged in risky trading strategies that strained the company's liquidity and could not be properly monitored."Also named as defendants were former MF Global President and Chief Operating Officer Bradley Abelow and former Chief Financial Officer Henri Steenkamp.A spokesman for Corzine had no immediate comment. Lawyers for the defendants did not immediately r...

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  1. Trustee Pins MF Global Collapse on Corzine Strategy

    Jon Corzine's aggressive bets on European sovereign debt while head of the MF Global Holdings Ltd brokerage led to the firm's dramatic collapse in 2011, according to...

  2. Corzine strategy led to MF Global collapse: trustee

    Jon Corzine's aggressive bets on European sovereign debt while head of the MF Global Holdings Ltd brokerage led to the firm's dramatic collapse in 2011, according to...

  3. Trustee Lays Much Of Blame On MF Global's Corzine

    Former MF Global Chief Executive Jon Corzine was blasted over his conduct at the firm in a new report on Thursday by the trustee who is recovering missing customer f...

  4. Accord between JPMorgan, MF Global parent gets court approval

    A bankruptcy judge on Wednesday approved a settlement that will increase JPMorgan Chase & Co's potential recoveries from the liquidation of MF Global Holdings to as ...

  5. MF Global, J.P. Morgan in Deal on Chapter 11 Case

    MF Global Holdings Ltd. (MFGLQ) bankruptcy trustee Louis Freeh struck a deal with J.P. Morgan Chase & Co. (JPM) in their dispute over more than $900 million in inter...

  6. JPMorgan resolves gripe over MF Global payout plan

    MF Global and its creditors have resolved a dispute with JPMorgan Chase & Co over the value of intercompany claims within the bankrupt brokerage's estate, eliminatin...

  7. CEO Succession Battle Brews at Goldman

    Goldman Sachs (NYSE:GS) chief executive Lloyd Blankfein is feeling pretty cocky these days, and having survived four years of post-financial crisis tumult and invest...

  8. Corzine Must Resolve Issues to Work Again

    A financial-industry regulator said former MF Global Holdings Ltd. Chairman and Chief Executive Jon Corzine would have to resolve issues stemming from the firm's Oct...

  9. MF Global payout plan approved for creditor vote

    A bankruptcy judge on Tuesday approved the outline of a plan by liquidators and creditors of failed brokerage MF Global to repay the company's creditors, a key step ...

  10. Will Corzine Be Banned for Life?

    FBN’s Liz MacDonald weighs in on whether the National Futures Association will ban Jon Corzine for life.

  11. Behind NFA's Push to Ban Corzine for Life

    FBN's Liz MacDonald on the vote to ban Jon Corzine from futures trading.

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  1. Ex-MF Global CEO Corzine sued by trustee

    Jon Corzine, the former chief executive of MF Global Holdings Ltd , drove the futures and commodities brokerage into collapse by taking excessive risks and ignoring ...

  2. MF Global Trustee Sues Former CEO Corzine

    MF Global Trustee Louis Freeh filed a lawsuit against former Chief Executive Jon Corzine in bankruptcy court, The Wall Street Journal reported on Tuesday. The lawsui...

  3. Ex-MF Global CEO Corzine Sued by Trustee

    Jon Corzine, a former U.S. Senator and governor from New Jersey, has been sued for his role in the failure of brokerage firm MF Global Holdings, the eighth largest b...

  4. Judge Approves MF Global Liquidation Plan: Reports

    A federal judge on Friday approved a liquidation plan for MF Global Holdings Ltd., a day after the firm's former chief executive, Jon Corzine, was blasted over his c...

  5. MF Global's liquidation plan approved by bankruptcy court

    MF Global on Friday gained court approval of a plan to liquidate its assets, pay back creditors and end the $40 billion bankruptcy that rocked the financial world in...

  6. MF Global Bankruptcy Exit Plan Ready for Court

    MF Global Holdings on Friday will seek court approval of a plan to liquidate its assets and repay creditors, signaling the final stages of its large and politically-...

  7. Former Goldman head Stephen Friedman retires from board

    Goldman Sachs Group Inc said on Thursday that Stephen Friedman, who once headed the bank when it was a private partnership, will retire from its board of directors b...

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