International law firm McDermott Will & Emery appointed Mark Fennessy and Sunay Radia to partners in its global transactions practice based in London. Fennessy will serve as head of UK restructuring and both individuals will focus on restructuring and insolvency matters.
The WSJ reported that the court-appointed administrator of MF Global’s wind down is concerned with “exorbitant defense fees” used in support of Jon Corzine in the on-going securities fraud lawsuit.
Reuters reported that MF Global trustee Louis Freeh, who already has asked for nearly $2 million in fees, has requested an additional $1 million for his work winding down the defunct brokerage firm.
Bloomberg reported that MF Global reached a settlement giving it a share of JPMorgan Chase’s recovery on a $60 million claim against the holding company’s brokerage.
Reuters reported that customers of MF Global’s failed broker-dealer unit and the trustee overseeing its liquidation won court approval for a $546 million settlement with JPMorgan Chase.