The tumultuous life of MF Global Inc. ended last week when the US federal judge overseeing the liquidation of the company formally closed the firm’s estate and ended its liquidation proceeding. MF Global—formerly a futures commission merchant registered with the Commodity Futures Trading Commission and one of the largest futures brokers worldwide—filed for bankruptcy on October 31, 2011, after it could not locate more than US $1.5 billion in customer funds. Since then, the estate has made all of MF Global’s customer claimants whole, returning US $6.9 billion to cover 100 percent of allowed claims. The estate also has paid US $35 million to cover 100 percent of allowed claims of secured, administrative and priority creditors and US $219 million to cover 95 percent of allowed claims of non-affiliate general creditors. An enforcement action filed by the CFTC in June 2013 against John Corzine, CEO of MF Global, and Edith O’Brien, Assistant Treasurer of the firm, claiming that the parent company of MF Global and the two individuals failed to segregate and misused MF Global customer funds, is still pending. (Click here for details of the CFTC enforcement action in the article “CFTC Files Long Awaited Enforcement Action Related to MF Global Collapse” in the June 27, 2013 edition of Between Bridges.)