Mart rattled as MF Global begins payout plan

Nov 18, 2011 | 05:49 PM | Chris Prentice

Tags  MF Global, bankruptcy, copper, Chris Prentice

NEW YORK — A New York judge’s decision to expedite payment to some MF Global Inc. customers is good news for copper market participants, but it hasn’t alleviated long-term concerns incited by the company’s bankruptcy filing.

Mike Eisner, president of scrap metal trading firm Premier Metal Services LLC, said he had what he described as a "small account" with MF Global.

"There is nobody there to protect us from the people we are entrusting with our money," Eisner said. "We should look forward. You’ve got to learn to change the exact reasons why we’re here today." ....

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