Refco Sees Light At End Of Tunnel

Law360, New York (September 14, 2006, 12:00 AM EDT) -- In a move that will move Refco Inc. closer toward emerging from bankruptcy, the commodities broker has reached an oral agreement with its main creditors, lawyers told a bankruptcy judge on Thursday.

Lawyers told Judge Robert Drain at the U.S. Bankruptcy Court for the Southern District of New York they had reached a final agreement, but had not gone through all formalities involved, such as printing the required documents. A written agreement must still be signed.

The agreement includes bondholders and creditors of Refco Capital Markets,...
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