Lawyers for former MF Global Inc. Chief Executive Jon Corzine and his top lieutenants are opposing a bankruptcy trustee's bid to characterize his final 100 percent payment to the failed firm's commodity customers as an "advance," Dow Jones Daily Bankruptcy Review reported today. Corzine's lawyers, along with attorneys representing former No. 2 Bradley I. Abelow, ex-finance chief Henri J. Steenkamp and other top brass aren't objecting to trustee James W. Giddens' request to return property to the customers. But they are upset about his attempt to characterize his final $305 million payout to customers as an "advance" to be recouped over time from future distributions due from MF Global 's U.K unit.
