Ex-FBI chief named trustee in MF Global bankruptcy

Associated Press
Published: Nov. 25, 2011

New York¬†Former FBI Director Louis J. Freeh is being tapped to be the trustee for MF Global’s Chapter 11 bankruptcy case.

The financial firm’s federal bankruptcy trustee requested court approval Friday for the appointment.

MF Global and a committee of its creditors asked the court on Monday for permission to name a trustee so it can get a binding commitment for financing while it is in bankruptcy.

U.S. Bankruptcy Court Judge Martin Glenn in New York granted the motion the next day.

Freeh would be charged with reorganizing or liquidating MF Global’s assets for the benefit of the company’s estates, creditors, and other stakeholders.

MF Global for bankruptcy protection on Oct. 31.