Trustee Objects To Certain Refco Claims

Law360, New York (November 9, 2006, 12:00 AM EST) -- The U.S. Trustee involved in Refco Capital Markets Ltd.’s bankruptcy proceedings has objected to over $64 million in tax-shelter claims on the grounds that they fail to allege any misconduct or state any factual or legal basis.

The Refco Inc. unit is now looking for the U.S. Bankruptcy Court in Manhattan to make the 50 entities in question affirmatively prove their claims at a future hearing.

Overall, more than 14,100 claims came in before the July 17 filing deadline. Among the 28 tax-shelter claims being disputed...
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