|
gptkbp:instance_of
|
gptkb:financial_services
|
|
gptkbp:acquired_by
|
gptkb:Interactive_Brokers
|
|
gptkbp:acquisition
|
by Interactive Brokers
|
|
gptkbp:assets_at_bankruptcy
|
$41 billion
|
|
gptkbp:audit_firm
|
gptkb:Ernst_&_Young
|
|
gptkbp:bankruptcy_case
|
notable
|
|
gptkbp:bankruptcy_case_number
|
11-15059
|
|
gptkbp:bankruptcy_effects
|
widespread
long-lasting on the industry
|
|
gptkbp:bankruptcy_filed
|
October 31, 2011
|
|
gptkbp:bankruptcy_filing_date
|
October 31, 2011
|
|
gptkbp:bankruptcy_implications
|
long-lasting
for regulatory reforms
|
|
gptkbp:bankruptcy_judge
|
gptkb:Martin_Glenn
gptkb:Judge_Martin_Glenn
|
|
gptkbp:bankruptcy_lessons
|
learned
|
|
gptkbp:bankruptcy_resolution
|
challenging
still in process
|
|
gptkbp:bankruptcy_timeline
|
gptkb:complex
complex and lengthy
filed for bankruptcy on October 31, 2011
|
|
gptkbp:brand
|
damaged post-bankruptcy
|
|
gptkbp:capacity
|
decreased
high trading volume
|
|
gptkbp:ceo
|
gptkb:Jon_Corzine
gptkb:Jon_S._Corzine
|
|
gptkbp:ceo_at_bankruptcy
|
gptkb:Jon_S._Corzine
|
|
gptkbp:client_accounts
|
frozen during bankruptcy
|
|
gptkbp:client_base
|
institutional and retail clients
|
|
gptkbp:client_funds_misappropriation
|
allegations
|
|
gptkbp:committee
|
formed during bankruptcy
|
|
gptkbp:conflict
|
gptkb:2011
contributed to financial instability
contributed to bankruptcy
contributed to its downfall
|
|
gptkbp:court
|
ongoing
ongoing against executives
|
|
gptkbp:creditors_committee
|
formed
|
|
gptkbp:defunct
|
gptkb:2011
|
|
gptkbp:dissolved
|
gptkb:2012
|
|
gptkbp:economic_impact
|
gptkb:significant
|
|
gptkbp:employees
|
over 1,000 (2011)
|
|
gptkbp:employees_at_bankruptcy
|
approximately 1,000
1,066
|
|
gptkbp:financial_industry
|
impacted
|
|
gptkbp:financial_irregularities
|
investigated
|
|
gptkbp:financial_products
|
futures and options
|
|
gptkbp:financial_recovery
|
slow
|
|
gptkbp:financial_regulators
|
scrutinized
investigated practices
|
|
gptkbp:financial_reports
|
misleading
misleading prior to bankruptcy
|
|
gptkbp:financials
|
gptkb:U._S._Bankruptcy_Court_for_the_Southern_District_of_New_York
gptkb:United_States_Bankruptcy_Court_for_the_Southern_District_of_New_York
global markets
Chapter 11
over 38,000
liquidation of assets
derivatives
criticized
settlements reached
thousands of creditors
criticized post-bankruptcy
owed significant amounts
|
|
gptkbp:founded
|
gptkb:1981
|
|
gptkbp:founder
|
gptkb:John_Corzine
|
|
gptkbp:headquarters
|
gptkb:New_York_City
200 Liberty Street, New York, NY
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
MF Global
|
|
gptkbp:impact
|
market confidence
|
|
gptkbp:impact_on_clients
|
loss of customer funds
|
|
gptkbp:impact_on_futures_market
|
negative
|
|
gptkbp:industry
|
gptkb:financial_services
|
|
gptkbp:investigates
|
gptkb:FBI
ongoing
by federal regulators
|
|
gptkbp:investment
|
lost
significantly decreased
European sovereign debt
diminished investor confidence in the market
|
|
gptkbp:is_debated_in
|
filed
filed against the company
|
|
gptkbp:is_respected_by
|
eroded
|
|
gptkbp:is_visible_from
|
under scrutiny
inadequate
|
|
gptkbp:key_people
|
gptkb:John_Corzine
|
|
gptkbp:legacy
|
controversial
impact on financial regulations
increased scrutiny of financial firms
for the financial sector
|
|
gptkbp:legal_issue
|
lawsuits from customers
|
|
gptkbp:liabilities_at_bankruptcy
|
$39 billion
|
|
gptkbp:liquidation_process
|
ongoing
managed by a court-appointed trustee
|
|
gptkbp:liquidation_process_start_date
|
November 2011
|
|
gptkbp:liquidation_value
|
estimated at $1.5 billion
|
|
gptkbp:losses
|
gptkb:significant
$1.6 billion
widespread
billions of dollars
significant financial losses for clients
|
|
gptkbp:major_industry
|
brokerage services
|
|
gptkbp:market
|
ongoing process
|
|
gptkbp:market_position
|
leading brokerage firm
exited the market after bankruptcy.
declined after bankruptcy
|
|
gptkbp:market_segment
|
gptkb:financial_services
|
|
gptkbp:market_share
|
reduced
significant market share in futures trading
significantly reduced post-bankruptcy
|
|
gptkbp:marketing_strategy
|
high-risk
|
|
gptkbp:notable_event
|
2011 bankruptcy filing
loss of $1.6 billion in customer funds
|
|
gptkbp:parent_company
|
gptkb:MF_Global_Holdings_Ltd.
|
|
gptkbp:provides_oversight_for
|
increased scrutiny post-collapse
lacked
increased after bankruptcy
|
|
gptkbp:reason_for_bankruptcy
|
bad bets on European debt
|
|
gptkbp:reasons_for_bankruptcy
|
poor risk management
|
|
gptkbp:recovery_rate_for_creditors
|
low
|
|
gptkbp:reformed
|
gptkb:2012
approved
failed
proposed but not approved
|
|
gptkbp:regulatory_body
|
gptkb:Commodity_Futures_Trading_Commission
|
|
gptkbp:regulatory_compliance
|
prompted regulatory changes in the industry
|
|
gptkbp:regulatory_fines
|
imposed post-bankruptcy
|
|
gptkbp:related_to
|
Jon Corzine's political career
|
|
gptkbp:reputation
|
controversial
damaged
damaged due to mismanagement
|
|
gptkbp:reputation_damage
|
severe reputation damage
|
|
gptkbp:reputation_in_industry
|
severely damaged
|
|
gptkbp:restructuring_efforts
|
failed
|
|
gptkbp:revenue
|
$2.5 billion
$2.5 billion (2010)
|
|
gptkbp:risk_management
|
Michael Stockman
high risk exposure
notable position
|
|
gptkbp:services_provided
|
futures and options trading
clearing and execution services
|
|
gptkbp:stock_symbol
|
MF
|
|
gptkbp:subsidiaries
|
gptkb:MF_Global_UK_Ltd.
|
|
gptkbp:team
|
proposed
limited success
|
|
gptkbp:total_assets_at_bankruptcy
|
$41 billion
|
|
gptkbp:total_liabilities_at_bankruptcy
|
$39 billion
|
|
gptkbp:traded_on
|
gptkb:New_York_Stock_Exchange
|
|
gptkbp:trading_operations
|
commodities and futures
|
|
gptkbp:type
|
gptkb:public_company
|
|
gptkbp:bfsParent
|
gptkb:Jon_Corzine
|
|
gptkbp:bfsLayer
|
5
|