A bankruptcy court on Thursday will review a proposal by MF Global’s trustee that would return 93 percent of the firm's missing money to customers, the New York Times DealBook blog reported today. The trustee who has submitted the proposal, James W. Giddens, has also identified a way that, if sent to the judge and approved, could plug the remaining shortfall for customers in the U.S. If a series of settlements with JPMorgan and other firms fall into place, people involved in the case said, Giddens could ultimately return 100 percent of MF Global's missing money. To plug the gap, he must also pursue a small pot of money sitting in MF Global's general estate, a move that would require court approval. Even if he takes that path, foreign clients will still face significant shortfalls.
