MF Global Holdings Ltd. has struck a deal with JPMorgan Chase & Co. that calls for the bank to pay MF Global a portion of what the bank recovers in the case, a settlement that MF Global’s administrator says avoids “years of costly and complex litigation,” Dow Jones Daily Bankruptcy Review reported today. In a Wednesday court filing, MF Global laid out settlement terms that call for J.P. Morgan to pay MF Global based on how much it recovers on its claim against the trustee unwinding the company’s brokerage. In return, J.P. Morgan would be off the hook for any claims against it in MF Global’s bankruptcy case.
