Clients of MF Global UK get their cash back

All but a tiny handful of MF Global UK's clients' positions have been closed or transferred since the London arm went under at the end of October, the administrators said last night.

KPMG's Richard Heis said he had recovered £594m, or 82 per cent, of clients' money which had been stuck within the financial system when the firm, run by Jon Corzine, collapsed. It has also recovered £201m of the firm's own money.