2012-03-24adamfurgatch.com

Mr. Furgatch, through his attorney, indicated that an appeal is warranted because there are similarities between his motion and the high-profile Kiobel v. Shell Oil corporate personhood case, the Nigerian human rights violations case currently being considered by the Supreme Court.  The Kiobel case seeks to hold corporations responsible for their actions in the same manner that a human person would be held responsible for his or her own criminal actions.  

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The Furgatch Motion asserts that because the U.S. Supreme Court has ruled that corporations are to be treated as "persons", then the "parent" corporate person, MF Global Holdings, by definition, must have a "child" corporate person, MF Global, Inc., the subsidiary brokerage whose 35,000 customers are still missing at least $1.6 billion in what was universally believed to be secured, segregated funds.  The motion then cites specific statutes in the Bankruptcy Code that mandate that a child's support claims shall have super-priority status over all other unsecured creditors, including financial institutions such as JP Morgan Chase Bank.


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