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Deloitte Assumes Control of Insolvent MF Global’s Business in Australia

Deloitte Assumes Control of Insolvent MF Global's Business in Australia - top government contractors - best government contracting event
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Deloitte‘s Australian unit is now administrating the Australian operations of broker-dealer firm MF Global, which recently filed for chapter 11 bankruptcy in the U.S. due in part to its holdings of sovereign European debt.

Deloitte has taken control of all the operations of the three MF Global companies in Australia, according to an administrator for the Australian Securities & Investment Commission.

Deloitte will “resolve what are complex operations in the interests of the companies' clients and creditors,“ the administrator said.

MF Global had relatively small Australian operations compared to previously failed financial institutions Lehman Brothers and Bear Stearns, according to a report in the Australian.

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