Bankruptcy Judge Martin Glenn yesterday approved the outline of a plan by liquidators and creditors of failed brokerage MF Global to repay the company's creditors, a key step toward ending its $40 billion chapter 11 case, Reuters reported yesterday. The approved outline was amended to address minor concerns that Judge Glenn had raised in refusing to approve an earlier version of the outline last week. Under the payout plan, the company's trader customers would be repaid in full. Louis Freeh, the trustee liquidating the MF Global parent, has agreed if necessary to support an effort by customers' trustee James Giddens to allocate some of the parent's assets to customer accounts to ensure their full recovery.
