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MF Global Brokerage Trustee Disinteredness Filing

MF Global Brokerage Trustee Disinteredness Filing

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Published by DealBook
Filing by MF Global brokerage's trustee, James W. Giddens, on his fitness to serve that role.
Filing by MF Global brokerage's trustee, James W. Giddens, on his fitness to serve that role.

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Published by: DealBook on Dec 13, 2011
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12/18/2011

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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
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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