MF Global's UK administrator KPMG has confirmed it may be able to double payouts to customers and make its first creditor payments after a three-way settlement was agreed.
The FT reports the trustees of the failed US futures broker's estate were in agreement with the proposed plan.
The report said KPMG would increase payments to customers with segregated accounts to about 60 cents in the dollar, compared with its initial forecast of 26 cents. This will go ahead only if the agreement gets US court approval.
If conditions are met, KPMG said it could also make an initial distribution of 20p in the pound to unsecured creditors, the FT reports.
The paper said the plan was "also reliant on the withdrawal of a claim for $236m by MF Global Finance USA, the trustee of MF Global’s holding company.
"It also needs a financial institution – unnamed by KPMG but understood to be JPMorgan, MF Global’s bankers – to withdraw a claim into the MF Global UK estate and pay a receivable of $98m."
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