A judge yesterday approved a payout to MF Global's unsecured creditors, who have waited nearly three years as customers of the collapsed brokerage already had their money returned, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Martin Glenn said James W. Giddens, the trustee in charge of winding down the brokerage, could pay the unsecured creditors about $295 million. A lawyer for Giddens said that distributions to the unsecured creditors could begin as soon as the order is final, which typically takes two weeks. He also said settlements of unresolved claims could soon result in "very substantial" creditor distributions beyond the one approved yesterday.
