United States – A comprehensive list of the unsecured creditors of bankrupt brokerage firm MF Global has been made public on the website of its administrator KPMG. Among them are some of Europe’s biggest raw materials traders, ferrous scrap operators and steel companies, who are owed a total of Euro 2.2 billion.
In Germany, for instance, scrap processor Scholz Recycling is owed Euro 13.8 million, while the New York-based brokerage firm is in debt to UK trader Stemcor Risk Management to the tune of Euro 12.7 million. Additionally, Swiss ferrous and non-ferrous specialist Umcor has been left with a gap in its funds of close to Euro 6.7 million.
Several steel producers, such as India-based Tata Steel and Italy’s Eurotubi, got away more lightly – with respective sums of Euro 79 915 and Euro 70 346, according to Platts Steel Business Briefing.
Creditors have suggested that this information is not something they would have wanted to see in the public domain.
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