MF GLOBAL:Jon Corzine, the former chief executive of MF Global, and other staff could face legal claims for "breach of fiduciary duty and negligence", the trustee for the failed broker-dealer said yesterday.

In a report to the bankruptcy court, James Giddens, the trustee, said:

“My investigation has concluded that management’s actions, along with the lack of sufficient monitoring and systems, resulted in customer property being used during the liquidity crisis to fund the extraordinary liquidity drains elsewhere in the business, including margin calls on European sovereign debt positions.”