Some MF Global customers face court over letters of credit

12/19/2012 | Wall Street Journal, The

Some big clients of MF Global avoided losses because the commodities broker gave them preferential treatment before its collapse, Dan Strumpf writes. Nine customers, including Koch Industries' energy-trading arm and two units of ConocoPhillips, were allowed to substitute bank letters of credit for cash or other assets as collateral, Strumpf writes.

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