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Judge Holds Off Approving MF Global Payment to Creditors

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MF Global's creditors, who have waited nearly three years to get paid, will have to wait a little longer after a bankruptcy judge yesterday held off approving its bid to repay them $295 million, Dow Jones Daily Bankruptcy Review reported yesterday. Bankruptcy Judge Martin Glenn said that he was uncomfortable with one part of the proposal: MF Global's request to estimate certain unresolved claims at zero dollars. The judge said that he was "not happy" that he didn't have enough information on some of the claims.