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| + | == Family, friends bidding farewell to Grams == | ||
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| + | A funeral service for Grams was scheduled for Tuesday morning at Zion Lutheran Church in St. Francis. A visitation was Monday night. | ||
| + | Grams died last week after a battle with cancer. He was 65. | ||
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| + | == Corzine makes moves to lift $30M defense == | ||
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| + | <html>Jon Corzine and the team of executives who toppled commodities brokerage firm MF Global don’t deserve another $10 million of insurance monies to pay their already “exorbitant” legal bills, a bankruptcy administrator said. | ||
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| + | Corzine, the disgraced former MF Global CEO and New Jersey governor, wants the $30 million defense-fund cap lifted, but the court-appointed administrator responsible for liquidating MF Global Holdings Ltd.,[http://reverselogistics.in/news-sep-16.asp cheap basketball jersey], the brokerage firm’s parent company,[http://nuggetventures.com/nfl-jerseys.html where to buy nfl jerseys],<strong>[http://222.186.59.108/thread-1189101-1-1.html Beltran, Ortiz bolster Hall cases with October heroics]</strong>, is fighting the move. | ||
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| + | While the money would come from insurance,<strong>[http://www.jk666.com/plus/view.php?aid=80780 Lhota slams Alec Baldwin following ‘trash ba]</strong>, it could reduce distributions to other creditors, bankruptcy experts said. | ||
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| + | “From February through September 2013, defense fees incurred to date exceed $40 million, a figure that has never been adequately explained or justified and which suggests duplication of efforts,” lawyers for the plan administrator argued in a sharply worded retort. | ||
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| + | Lawyers for Corzine and his former colleagues argued that they “have tried hard to keep costs down [but] the mounting exorbitant defense fees tell a different story,” the lawyers in charge of the estate said. | ||
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| + | Corzine’s legal eagles want the cap lifted, saying many of the executives “are unable to pay their defense costs themselves.” | ||
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| + | Following MFG’s epic collapse in October 2011, regulators discovered a gaping $1.6 billion loss in customers’ brokerage accounts, which were supposed to have been kept safe and separate from the firm’s money. | ||
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| + | Last month, Nader Tavakoli, one of the three members of the board objecting to an increase in defense funds, filed an amended lawsuit against Corzine for masterminding a scheme that led to MF Global’s demise, including artificially inflating revenues. | ||
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| + | The Commodities Futures Trading Commission has also sued Corzine for misusing customers’ funds, which Corzine has adamantly denied.</html> | ||
