Judge Denies Request to Block MF Global Execs from Insurance

A U.S. judge refused to block former MF Global Holdings Ltd Chief Executive Jon Corzine and other company officials from tapping as much as $30 million of insurance money to defend lawsuits over the futures brokerage's collapse.

By Jonathan Stempel (Reuters) | Updated on May 02, 2012

NEW YORK, April 30 (Reuters) – A U.S. judge refused to block former MF Global Holdings Ltd Chief Executive Jon Corzine and other company officials from tapping as much as $30 million of insurance money to defend lawsuits over the futures brokerage’s collapse.

Judge Martin Glenn of the U.S. bankruptcy court in Manhattan on Monday rejected a request by three plaintiffs including Sapere Wealth Management LLC to put the funds’ release on hold while they appeal his April 10 decision allowing officials to access the money.

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