Griffin victims to get money back

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The Independent Online
Griffin victims to get money back

THE 120 LIFFE futures traders hit by last December's collapse of Griffin, the City futures clearing house, should get 40 per cent of their the money back within the next few days, according to the firm's liquidator. It is the first payout since Griffin went under nearly six months ago.

Finbarr O'Connell of accountants Grant Thornton is to make an application in the High Court today for authorisation to release pounds 2.5m frozen in client accounts since the collapse. Many of the traders have been unable to work since the firm went under as a result of unauthorised dealings on the German futures market by the trader John Park last year.