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61614391_2
James B. Kobak, Jr.David W. WiltenburgSavvas FoukasHUGHES HUBBARD & REED LLPOne Battery Park Plaza New York, New York 10004Telephone: (212) 837-6000Facsimile: (212) 422-4726Attorneys for James W. Giddens,Trustee for the SIPA Liquidation of MF Global Inc.
UNITED STATES BANKRUPTCY COURTSOUTHERN DISTRICT OF NEW YORK 
In reMF GLOBAL INC.,Debtor.Case No. 11-2790 (MG) SIPA
STATEMENT IN FURTHER SUPPORT OF DISINTERESTEDNESS AND INRESPONSE TO COURT ORDER DATED DECEMBER 7, 2011
 
 -i-
TABLE OF CONTENTS
PageI.
EMPLOYMENT OF PROFESSIONALS AND HANDLING OFCONFLICTS IN SIPA CASES ...........................................................................................3
A.
Retention of SIPA Trustee and Counsel ..................................................................3
B.
The MFGI Liquidation .............................................................................................7
C.
HHR Policies and Practices Regarding Conflicts in SIPAProceedings ..............................................................................................................9
II.
RETENTION OF THE TRUSTEE AND HHR IS APPROPRIATEUNDER BOTH SIPA AND BANKRUPTCY CODE STANDARDS..............................11
A.
The SIPA Disinterestedness Standard ...................................................................11
B.
The Trustee and HHR Are Disinterested Under SIPA ..........................................12
C.
Retention of HHR Is Also Proper Under Bankruptcy Code § 327 ........................13
D.
The Trustee And HHR Will Continue To Comply With AllApplicable Disclosure Requirements .....................................................................21
III.
RESPONSES TO FACTUAL AND LEGAL QUESTIONS .............................................23
 
 
 -ii-
TABLE OF AUTHORITIES
Page(s)C
ASES
 
 In re Allegheny Int’l, Inc.
, 117 B.R. 171 (W.D. Pa. 1990) ............................................................20
 In re AroChem Corp.
, 176 F.3d 610 (2d Cir. 1999) ..............................................................
 passim In re Blinder, Robinson & Co.
, 131 B.R. 872 (D. Colo. 1991) .........................................18, 21, 28
 In re Crivello
, 134 F.3d 831 (7th Cir. 1998) ..................................................................................19
 In re Diva Jewelry Design, Inc.
, 367 B.R. 463 (Bankr. S.D.N.Y. 2007) ...................................7, 15
 In re Granite Partners, L.P.
, 219 B.R. 22 (Bankr. S.D.N.Y. 1998) ........................................18, 19
 In re Huntco Inc.
, 288 B.R. 229 (E.D. Mo. 2002) ...............................................................7, 14, 15
 In re Leslie Fay Cos.
, 175 B.R. 525 (Bankr. S.D.N.Y. 1994) .......................................................20
 In re Madoff 
, 2010 WL 3260074 (S.D.N.Y. 2010) ..........................................................................5
 In re Perry, Adams & Lewis Sec., Inc.
, 5 B.R. 63 (Bankr. W.D. Mo. 1980) .................................18
 In re Project Orange Assocs., LLC 
, 431 B.R. 363 (Bankr. S.D.N.Y. 2010) ...........................15, 16
 Rome v. Braunstein
, 19 F.3d 54 (1st Cir. 1994) ......................................................................17, 18
S
TATUTES AND
R 
ULES
 
11 U.S.C. § 101(14) ...................................................................................................................6, 1311 U.S.C. § 327 ......................................................................................................................
 passim
 11 U.S.C. § 521 ................................................................................................................................315 U.S.C. § 78aaa et seq. .................................................................................................................115 U.S.C. § 78eee ..................................................................................................................
 passim
 15 U.S.C. § 78eee(b)(6) .........................................................................................................
 passim
Federal Rule of Bankruptcy Procedure 1007 ...................................................................................3Federal Rule of Bankruptcy Procedure 2014 .........................................................................
 passim
 Model Rules of Professional Conduct R. 1.7 (2010) .................................................................9, 10
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