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IN RE MF GLOBAL HOLDINGS LTD.

Case No. 11-15059 (MG) (Jointly Administered) Case No. 11-2790 (MG) SIPA.

515 B.R. 193 (2014)

IN RE MF GLOBAL HOLDINGS LTD., et al., Debtors. In re MF Global Inc., Debtor.

United States Bankruptcy Court, S.D. New York.

Signed September 4, 2014.

Attorney(s) appearing for the Case

Kramer Levin Naftalis & Frankel LLP, Attorneys for Bradley Abelow, 1177 Avenue of the Americas, New York, New York 10036, By: Arthur H. Aufses III, Esq.

Jones Day, Counsel for MF Global Holdings Ltd., as Plan Administrator, 555 South Flower Street, Fiftieth Floor, Los Angeles, CA 90071, By: Bruce Bennett, Esq. , 222 East 41st Street, New York, NY 10017, By: Scott J. Greenberg, Esq.

Hughes Hubbard & Reed LLP, Attorneys for James W. Giddens, Trustee for the SIPA Liquidation of MF Global Inc., One Battery Park Plaza, New York, New York 10004, By: James B. Kobak, Jr., Esq.

Entwistle & Cappucci LLP, Co-Lead Counsel for the Customer Representatives in the Customer Class Action, 280 Park Avenue, 26th Floor West, New York, New York 10017, By: Andrew J. Entwistle, Esq.

Berger & Motague, P.C., Co-Lead Counsel for the Customer Representatives in the Customer Class Action, 1622 Locust Street, Philadelphia, Pennsylvania 19103, By: Merrill G. Davidoff, Esq.

MEMORANDUM OPINION AND ORDER LIFTING AUTOMATIC STAY TO PERMIT PAYMENTS OF DEFENSE COSTS UNDER CERTAIN INSURANCE POLICIES

MARTIN GLENN, UNITED STATES BANKRUPTCY JUDGE

Once again, former MF Global directors and officers (the "Individual Insureds"1) ask the Court for relief so they can access proceeds of certain directors and officers liability insurance policies ("D & O Policies...

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