Bankruptcy Judge Martin Glenn yesterday approved a settlement under which many former MF Global customers would get back 93 percent of the value of their accounts, a major step in the wind-down of former New Jersey Governor Jon Corzine's collapsed brokerage, Bloomberg News reported yesterday. The approval comes nearly six weeks after trustees for MF's UK and U.S. broker-dealers, as well as its parent, announced the deal to resolve billions of dollars in intercompany claims. The agreement avoids litigation in the UK that could have dragged out MF Global's liquidation for years. It will allow James Giddens, the trustee for MF's U.S. trader customers, to return another $500 million to $600 million to those customers. That would increase total payouts to about 93 percent of the value of their accounts, from the 80 percent or so most have recovered so far.
