{"id":184827,"date":"2012-01-10T18:30:00","date_gmt":"2012-01-10T23:30:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/01\/10\/louis-freeh-to-account-holders-drop-dead\/"},"modified":"2012-01-10T18:30:00","modified_gmt":"2012-01-10T23:30:00","slug":"louis-freeh-to-account-holders-drop-dead","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/01\/10\/louis-freeh-to-account-holders-drop-dead\/","title":{"rendered":"Louis Freeh to Account Holders, Drop Dead"},"content":{"rendered":"

You knew it was coming when this corrupt rat-bastard was appointed trustee. Now he’s trying to f%$# the account holders out of the money that JP Morgan Chase and the rest of the usual suspects stole from the:<\/a><\/p>\n

MF Global Holdings Ltd. (MF)\u2019s creditors should have some priority to be repaid by the bankrupt estate, said Chapter 11 trustee Louis Freeh, citing intercompany loans made between the failed parent and its operating unit.<\/p>\n

Freeh, representing the interests of creditors of the parent company, commented on the legal principles that will govern repayments in papers filed late yesterday in Manhattan bankruptcy court. Former customers of the broker-dealer unit, seeking an estimated $1.2 billion missing from their accounts, are being repaid in a related case overseen by a different trustee, James Giddens, appointed under the Securities Investor Protection Act.<\/p>\n

The holding company has \u201csubstantial intercompany claims\u201d against the broker-dealer unit on account of former intercompany loans, and any recoveries of that money shouldn\u2019t be \u201cdiverted\u201d to customers, giving them a priority at the expense of creditors of the parent company, Freeh said.<\/p>\n

Freeh is concerned that \u201can inappropriate interpretation\u201d of the law may lead Giddens to deny the rights of creditors to recover from property that was never deposited by them, lawyers for Freeh wrote.
Customer Pool<\/p>\n

The conflict is \u201cnot whether certain estate property can be distributed to customers, but whether estate assets that would otherwise be available for distribution to MF Global Inc.\u2019s creditors can be reallocated to the customer pool,\u201d Freeh said.<\/p><\/blockquote>\n

Seriously, the assets he is referring to were stolen<\/b> by those “creditors”.<\/p>\n

First, he obstructs the investigation of the theft of client accounts<\/a>, and now he’s trying to f%$# the account holders.<\/p>\n

It must be nice to be able to be so blatantly corrupt and get paid for it.<\/p>\n","protected":false},"excerpt":{"rendered":"

You knew it was coming when this corrupt rat-bastard was appointed trustee. Now he’s trying to f%$# the account holders out of the money that JP Morgan Chase and the rest of the usual suspects stole from the: MF Global Holdings Ltd. (MF)\u2019s creditors should have some priority to be repaid by the bankrupt estate, …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1094,970,972],"tags":[],"class_list":["post-184827","post","type-post","status-publish","format-standard","hentry","category-campaign-finance","category-corruption","category-justice"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184827"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=184827"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184827\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=184827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=184827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=184827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}