A Law360 article reported that Judge Victor Marrero
preliminarily approved a settlement in which JPMorgan Chase Bank
N.A. agreed to free up more than $546 million to be distributed to
former U.S. customers of MF Global to resolve all outstanding
issues between the bank and the collapsed dealer-broker.
Berger & Montague shareholder, Merrill Davidoff, was quoted as
saying, "We are very gratified by the fact that JPMorgan engaged
early on with class counsel, it was a positive move on their
part. It will free up a lot of funds, not only from the money
that they're contributing to the settlement, but also by the
removal of liens and claims on money that was tied up in both the
United States and the UK."