This standard is met "when the plaintiff pleads factual content that allows the court to draw the reasonable inference that the defendant is liable for the misconduct alleged. A court should not dismiss a complaint for failure to state a claim if the factual allegations sufficiently "raise a right to relief above the speculative level.
By Ryan Boysen Law April 30,8: Allied World is the lone holdout in a global settlement with other insurers of MF Global in the wake of its infamous, collapse, in which the onetime leading commodities and derivatives broker had lost over a billion dollars in customer funds.
Most of the insurers paid out the full limit of their policies with MF Global, according to court documents.
The litigation trust has an arbitration hearing scheduled for February in the Allied World case, Tavakoli said, but the trust is currently scheduled to terminate on June 4.
Allied World secured its right to have its battle with the trust play out in arbitration instead of litigation late last year, after U. District Judge Jed S.
Judge Rakoff said the insurer had so many independent bases to argue in favor of the arbitration order that they would all need to be decided before the dispute ever actually moved forward.
Neither the trustee nor Allied World responded Tuesday to requests for comment. Allied World Assurance Co. MF Global Holdings Ltd. Editing by Edrienne Su.MF Global Holdings Ltd.
and one of its unregulated affiliates are debtors in chapter 11 cases also filed in this Court. See In re MF Global Holdings Ltd., Case No.
(MG), filed on October 31, New York-based MF Global imploded after a disastrous $ billion bet on European countries' debt. The firm filed for bankruptcy protection on Oct. 31, The $41 billion bankruptcy was the eighth-largest in U.S.
history at the time and one of Wall Street's biggest. FORTUNE — At about p.m. on Tuesday, October 25, David Schamis, a director of a once-obscure futures brokerage company called MF Global, placed a call to his friend, Jacob Goldfield. Testimony on MF Global, Inc. December 15, Sullivan & Cromwell, who requested a meeting to allow MF Global to present its case as to why the one year waiting period was unfair.
On behalf of the New York Fed, I agreed to allow MF Global an opportunity to be heard on the issue. The Termination of MF Global as a Primary Dealer.
Mar 13, · PwC asks for a mistrial in MF Global case, saying the plaintiffs have shifted their theory of what caused the company's collapse.
MF Global, formerly known as Man Financial, was a major global financial derivatives broker, or commodities brokerage firm that went bankrupt in MF Global provided exchange-traded derivatives, (MF Global Holdings Ltd.) bankruptcy case on November 25, Headquarters: New York City, United States.