Nov 18

Benzinga talks to MF Global customer counsel James Koutoulas

On Monday, the Commodity Customer Coalition filed court papers objecting to a lien on MF Global assets secured by J.P. Morgan (NYSE: JPM) in exchange for allowing the bankrupt firm to use around $8 million in cash for another 5 days. J.P. Morgan, who is the largest creditor of MF Global, is also seeking “super-priority” liens on MF assets, which would put the bank at the head of the line to recover funds – before even customers are made whole. Koutoulas told Benzinga that “I think JP Morgan realizes we made some really good points in our objection to their motion, and they are stalling the hearing on this as much as they can.”