A judge approved a Jefferies Group affiliate’s purchase of MF Global Holdings Ltd.’s liquidating brokerage’s remaining gold, silver and other precious-metal assets, according to the NY Post report.
Judge Martin Glenn of the US Bankruptcy Court in Manhattan approved the sale, but much of yesterday’s time was taken up by issues regarding insurance meant to pay for former MF Global executives’ legal defenses.
Jefferies is buying the remaining 106 warehouse certificates — not the actual gold and silver bars — of MF Global’s former commodities customers.
At the market prices listed in a filing last month, those customers would get about $14.5 million from the sale of the certificates, a value of more than 99 percent of the aggregate current futures value of the metals underlying the certificates….
Find out more at http://www.nypost.com/p/news/business/judge_oks_mf_sale_MOu7YNoRmEjTC9SmWkLK8M
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