The infamous history of MF Global is closer to ending after the administrator for the bankrupt holding company filed a proposed notice of settlement that, if approved, would provide a payment of US $132 million to resolve most outstanding litigation against the company and individual former officers by certain customers and other creditors. The funds would come from insurance proceeds from policies maintained on behalf of the former officers of MF Global that were named as defendants in the litigation, including John Corizine, former chief executive officer. An unspecified amount of funds from the same insurance proceeds, however, would be set aside to help fund the defense costs of Mr. Corizine and Edith O’Brien, former MF Global assistant treasurer, as well as any possible fine, in connection with their enforcement action by the Commodity Futures Trading Commission. (The CFTC filed a lawsuit against these two individuals and two MF Global companies in June 2013, charging them with failing to segregate customer funds and for misusing customer funds. Mr. Corzine was also charged with failure to supervise. The two corporate defendants have settled this action; the action against Mr. Corizine and Ms. O’Brien remains pending. (Click here for further details of this litigation in the article, “CFTC Files Long Awaited Enforcement Actions Related to MF Global Collapse” in the June 27, 2013 edition of Between Bridges).) A hearing on the administrator’s proposed settlement will be held on August 11.