ML-Implode News - Morgan reportedly returns $600 million in MF Global customer funds

Bank officials have said J.P. Morgan never intentionally accepted or held on to money that belonged in segregated customer accounts at MF Global. In May, the trustee announced that J.P. Morgan agreed to hand over $168 million that came from collateral held at the bank when MF Global filed for bankruptcy.
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Bank officials contend that J.P. Morgan isn't holding more MF Global money, according to people familiar with the matter. Mr. Giddens hasn't reached the same conclusion and could demand additional payments, claiming that money passed through J.P. Morgan on its way elsewhere, according to a person familiar with his thinking.
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If that happens, J.P. Morgan might counter that its repayments to date have exceeded $600 million, not including the losses suffered by the bank as a creditor to MF Global. While that $600 million could help lower the $1.6 billion shortfall, much of that money already had come back to MF Global before the shortfall estimate was made.

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Morgan reportedly returns $600 million in MF Global customer funds