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Stock Market & Financial Investment News

News Breaks
January 18, 2013
12:59 EDTINTLINTL FCStone to appeal Sentinel decision
INTL FCStone announced that an agreed order was entered in the U.S. Circuit Court for the Northern District of Illinois on January 17, staying execution and enforcement of the January 4 judgment against its subsidiary, FCStone, in the matter of Frederick J. Grede (as Liquidation Trustee of the Sentinel Liquidation Trust) vs. FCStone, pending an appeal of the judgment. By agreement it was also ordered that FCStone should post an appeal cash deposit of $7.96M with the Court. INTL FCStone is of the view that, if the appeal is unsuccessful, the resulting net pre-tax loss to FCStone would be between $4M-$6M.
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