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MF Global Customers to get some relief

The trustee liquidating MF Global Holdings Ltd’s broker-dealer unit won court permission to distribute $520 million of cash, providing relief to customers whose accounts have been frozen since the brokerage went bankrupt.

U.S. Bankruptcy Judge Martin Glenn approved the payout at a hearing on Thursday in Manhattan.   The payout is 60 percent of the $869 million that was frozen since Oct. 31 across commodity customer accounts that contained only cash, the trustee James Giddens has said.