Fox News – J.P. Morgan Chase & Co. (JPM) says a group of hedge funds is trying to use a “pocket veto” to derail the bank’s bid to recover $928 million it lent to MF Global Holdings Ltd. just before the firm’s 2011 collapse.
In a Tuesday filing with U.S. Bankruptcy Court in Manhattan, J.P. Morgan said the hedge funds, which filed a payback plan that MF Global (MFGLQ) creditors are currently voting on, are attempting to deny creditors of the financing subsidiary information about what their claims should be worth.
