Collapsed brokerage MF Global Holdings Ltd on Tuesday effectively ended its bankruptcy, saying court-appointed trustee Louis Freeh will step down and hand the estate’s remaining wind-down duties to a new three-member board. The commodities broker, led by former New Jersey Gov. Jon Corzine, went into court-protected bankruptcy in 2011 after investors were spooked by its exposure to $6.3 billion in European sovereign debt. The company’s liquidation plan put together by Freeh, a former FBI director, and MF Global’s creditors, was approved by bankruptcy Judge Martin Glenn in April, and the plan went into effect on Tuesday. More on Reuters here.
