Peregrine trustee seeks to distribute $123 million

Thu Sep 6, 2012 9:07am EDT
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(Reuters) - Peregrine Financial Group's bankruptcy trustee is seeking court approval to distribute $123 million to former customers of the futures brokerage, the first they would see of their funds since Peregrine's collapse in mid-July.

The trustee, Ira Bodenstein, has about $181 million on hand, he said in a court filing late Wednesday. The earliest the distribution could take place would be September 28, according to the filing.

Peregrine filed for bankruptcy protection on July 10, a day after its CEO attempted suicide and confessed to a long-running fraud. The Commodity Futures Trading Commission has pegged the amount of missing customer funds at more than $200 million.

(This story is corrected to show earliest distribution date is Sept 28)

(Reporting by Ann Saphir; Editing by Gerald E. McCormick)