GFP Note: Please click on the link at the bottom to read the rest of this story. The gist is that the "Sentinel Ruling" means that banks can mix customer money with their own money and also use it to pay off creditors.
Reuters
By Tom Polansek and Ann Saphir
CHICAGO | Thu Aug 9, 2012 8:18pm EDT
(Reuters) - A ruling in the case of failed futures brokerage Sentinel Management Group could make it more difficult for customers to recoup money lost in the much larger collapse of MF Global, according to Sentinel's bankruptcy trustee.
A federal appeals court on Thursday upheld a ruling that puts Bank of New York Mellon ahead of former customers of Sentinel in the line of those seeking the return of money lost in the 2007 failure of the suburban Chicago-based futures broker.
To read the rest of this story, visit Reuters.com.
