I finally received a call from the law firm involved in the bankrucpty of MF Global. I had called 3 times and it took about 2 1/2 weeks to get a call back. This is what I know so far. There was a first distibution to move contracts of those that had positions. I was one of them because I had a one contract sugar trade on. I believe, but am on sure of a second distribution of those with postitions ( Don't hold me to that I am not sure.) Now there is a second distribution that they are planning for those that had all cash on dec. 31 for to the tune of 60%. They then expect to have another distribution to try and get everyone to 60%. The problem is that if you had for example one postion like I did and they transfered only 75% of the maintenace margin and that you have quite a bit of cash left behind, how fair is that. Sounds like they will have another distribution to try and get everyone to 60%. However, this may not happen automatically and require a claim form. So for those like me it is a bad situation as the money is still frozen.

I just watched on TV that the stolen money may have gone from 600 million to 1.2 billion now. Therefore they were looking at a 12% hair cut now to a 24% hair cut. Also just read on the MF global trustee website that the Trustee (banckrucpty judge) has said that 60% is all he has under control. Other stuff tied up in other countries etc.... Also on the news that Corsine may be the new Madoff.

This does not look good and will drag on. Some have gotten nothing back yet and some like myself just a little and it does not look good. Yes mutiple accounts look good, but if you are trading a high margin commodity like silver, gold etc... then your money gets spread a little thin. Right now all I have heard about is that they are trying to get everyone to 60%!!! No claim form available yet from what the guy told me this morning.

Protect your money. I watch the banks I do business with, but I did not watch MF Global on the financial channels, so that is my bad.

Like I mentioned before I worked for a telecom company for many years and right after I was laid off they went backrupt. Here I thought I was going to get a nice severance package, but it stopped instantly. Have a claim form filed with little hope as it will be 3 years this comming mid Jan.