New York, May 22 (FinanceEnquiry.com) - MF Global Holdings Ltd, the now bankrupt derivatives broker paid its chief Jon Corzine more than $8 million in pay and stock options in the same year it went bankrupt. Corzine's package was disclosed on Friday by Louis Freeh, the trustee unwinding the company's bankrupt estate.
Jon Stevens Corzine, the former CEO of Goldman Sachs and former Governor of New Jersey was paid $3 million in cash, the filing showed, as well as $5.35 million in stock options, which now are not worth the paper its printed on.
MF Global declared bankruptcy on October 31, 2011, amid a liquidity crisis at the firm prompted by $6.3 billion trade MF Global made on its own behalf on bonds of some of Europe?s most indebted nations.
A coalition of former MF Global customers last week asked that the case be put on fast track to cut down on fees charged by the legal team winding down the estate. The money thus saved will go to the defunct firm's customers.
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