anyone knows if those using MF global were able to recover their account monies? and also what happened to those holding Jade Tech margin-ed shares when Merrill Lynch dumped all Jade Tech shares held by MF Global (as custody) onto the market?
https://en.wikipedia.org/wiki/MF_Global
"Bankruptcy trustee, regulators investigate missing client funds
Clearly, client (or customer) accounts were misused to try to cover the bet made on European sovereign debt. Beginning in November 2011, MF Global was investigated by regulators for money missing from client accounts. The shortfall in client accounts at MF Global Holdings Ltd was thought to be around $1.2 billion as of late November 2011, according to the trustee liquidating the company.[4]
As the trustees and liquidators continued their work in early 2012, they indicated that the total amount owed to clients was substantially higher. Rolling Stone reported in April 2012 that the number stands at $1.6 billion, and that "nobody disputes the fact that MF Global officials dipped into customer accounts and took...customer money."[5]
US and UK investors continued waiting to see if and when they would be repaid for the misuse of their client account monies.
However, because rehypothecation is not allowed in Canada, the Canadian customers of MF Global were able to recover all their funds within 10 days.[59]
Settlements
With, among other sources of cash, Corzine and other former MF Global executives in 2016 reaching a $132 million settlement with a trustee liquidating the company on behalf of creditors and, in 2015, executives having reached a $64.5 million settlement of separate investor litigation, portions of which were covered by insurance, all customer (in 2014) and other claims on MF were settled.[60][61]"