But Frederick Grede, the trustee overseeing the bankruptcy of Sentinel Management Group, a futures broker that went bust in 2007, told Bloomberg that if MF Global is sued, it could take years for customers to get their money back.

FORBES: Anger Builds Over MF Global Mess - And Spells Trouble

To circumvent this risk, these Americans would appoint a trust protector to supervise the management of the trust by the foreign trustee, and, if necessary, remove that trustee.

FORBES: Trust Protectors: Coming Out of the Woodwork

"The case is about allowing a trustee to do his job, and freely deduct administrative costs including investment management fees as a business expense, " Cantrell says.

FORBES: Magazine Article

Mellody Hobson has served as the president and a director of Ariel Investments, LLC, a Chicago-based investment management firm, since 2000 and as the chairman since 2006, and a trustee since 1993 of the mutual funds it manages.

FORBES: Mellody Hobson