Receiver Ad Litem and MF Global Ltd. Settle Philadelphia Alternative Asset Fund LitigationMF Global Ltd. • December 7th, 2007 • Security & commodity brokers, dealers, exchanges & services
NEW YORK – December 3, 2007 – Steven Harmelin, the Receiver ad litem, and MF Global Ltd. (NYSE:MF) have reached an agreement to settle litigation against MF Global Inc., brought by the Receiver ad litem for Philadelphia Alternative Asset Fund and related entities, subject only to United States District Court approval.
SETTLEMENT AGREEMENTSettlement Agreement • December 7th, 2007 • MF Global Ltd. • Security & commodity brokers, dealers, exchanges & services • New York
This Settlement Agreement (the “Agreement”) is made as of November 30, 2007, by and between Stephen J. Harmelin, the court-appointed Receiver ad litem (the “Receiver ad litem”) and C. Clark Hodgson, Jr., the court-appointed Receiver (the “Receiver”) for the Philadelphia Alternative Asset Management Company, LLC (“PAAMCo”) and all of its partners, affiliates, subsidiaries and related entities, including, but not limited to, Philadelphia Alternative Asset Fund, Ltd. (“PAAF”), Option Capital Fund, LP, Philadelphia Alternative Asset Fund, LP, and Philadelphia Alternative Feeder Fund, LLC (collectively, the “Receivership Entities”), on behalf of all of the foregoing Receivership Entities (collectively, “Plaintiff”), having respective addresses at Dilworth Paxson LLP, 3200 Mellon Bank Center, 1735 Market Street, Philadelphia, PA 19103, and Stradley Ronon Stevens & Young LLP, 2600 One Commerce Square, Philadelphia, PA 19103, on the one hand, and MF Global Inc. f/k/a Man Financial Inc (“MFG”),
