Former employees of MF Global Singapore sue
The group claiming they are owed at least S$3.5 million by MF Global Singapore filed a lawsuit to demand information as to how they will be paid.
A Bloomberg report said, “While KPMG kept customers informed on the distribution of their funds via at least 13 public statements, creditors in Singapore were faced with a dearth of information, according to the lawsuit.”
According to the report, former head of sales for Asia Michael Joseph Drennan described the response from the provisional liquidators as very frustrating.
View the report here.
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