KPMG faces criticism over ‘slow’ MF Global wind-down
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KPMG is set to face a torrent of investor criticism today over the slow progress being made in the recovery of funds in failed broker MF Global.
The administrator will face clients for the first time at the Barbican later today. MF Global filed for Chapter 11 bankruptcy in New York in October last year after making a £4bn bet on European government debt.
According to The Daily Telegraph, the meeting will be chaired by joint administrator of the MF Global UK business Richard Heis.
MF Global investors are frustrated at the slow progress in recovering the £780m of cash and assets frozen since the broker collapsed.
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