A proposed liquidation plan for MF Global Holdings Ltd. fails to take into account that its finance unit is being hit twice for the same debt, undercutting what some creditors might recover, JPMorgan Chase & Co said in a court filing, Reuters reported on Friday. Creditors of the finance unit could get up to 47.7 percent of their money if the double liability were voided, according to the filing by JPMorgan, which is an agent and lender under the unit's $1.2 billion liquidity facility. That is more than the maximum 33.6 percent that those creditors would receive under the plan proposed earlier this month by Silver Point Capital, Knighthead Capital and Cyrus Capital Partners in conjunction with trustee Louis Freeh.
