A U.S. appeals court on Wednesday that commodities brokerage INTL FCStone Inc. can keep a $15.6 million payout of customer funds related to the bankruptcy of Sentinel Management Group in 2007, Reuters reported yesterday. The decision overturned a federal district court's previous order that New York-based FCStone return the money to the trustee overseeing Sentinel's bankruptcy. The previous ruling said FCStone had received too large a payout compared with other former customers of Sentinel, an investment adviser and futures broker. However, the appeals court said that fund transfers to FCStone before and after Sentinel's bankruptcy were proper.
