A federal judge yesterday said that a lawsuit filed by a former MF Global Holdings Ltd. futures customer against former Chief Executive Jon S.Corzine and other top officials could move forward but dismissed all claims against the failed brokerage's independent directors and investment firm J.C. Flowers, Dow Jones Daily Bankruptcy Review reported today. U.S. District Judge Victor Marrero said that former MF Global customer Sapere CTA Fund LP can pursue its lawsuit against Corzine and some of his others — including former No. 2 Bradley I. Abelow and ex-finance chief Henri J. Steenkamp — alleging that the firm's liquidity crisis was brought on by an ill-conceived trades devised by Corzine, a former governor of New Jersey. Sapere contended that it had millions of dollars in cash and United States Treasury bills in accounts at MF Global 's FCM subsidiary in late 2011, when MF Global filed for bankruptcy.
