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Monday, October 31, 2011


MF Global declares bankruptcy

By Val Brickates Kennedy

BOSTON (MarketWatch) — MF Global Holdings /quotes/zigman/581106/quotes/nls/mf MF +10.00% filed for Chapter 11 protection in a New York bankruptcy court early Monday, in the wake of news that the Federal Reserve Bank of New York had suspended business dealings with the troubled broker-dealer. In a court filing made Monday, MF Global said that it owed approximately $39.7 billion, and had assets of roughly $41.1 billion. Late Sunday, The Wall Street Journal reported MF Global planned to file for bankruptcy on Monday and was negotiating a deal to sell off at least some of its assets to Interactive Brokers Group Inc. /quotes/zigman/104045/quotes/nls/ibkr IBKR +2.04% .

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