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MF Global Trustees Resolve Fight over 130 Million CME Settlement

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The trustees for MF Global's creditor factions have resolved their dispute over the allocation of a $130 million payment from CME Group Inc., Reuters reported on Friday But the agreement also preserves the prospect of a future fight over how to divvy up money recovered by the trustees. Louis Freeh, the trustee recouping money for MF Global Holdings Ltd's bankruptcy creditors, agreed for now not to challenge a settlement under which exchange regulator CME would pay $130 million to be split between former commodities trader customers of MF Global's broker-dealer unit. The settlement was reached in June between CME and James Giddens, Freeh's counterpart working to recover money for the customers. Giddens delayed sending the deal to a judge for court approval earlier this month after Freeh raised concerns about it.