Refco Unit Bids To End Dispute Over $201M Loan

Law360, New York (November 23, 2006, 12:00 AM EST) -- The Chapter 11 Trustee for Refco Capital Markets Inc. is seeking court approval for a $96 million settlement that could end a dispute with JPMorgan Chase & Co. over a $201 million loan RCM took out five days before going bankrupt.

The deal calls for RCM to pay JPMorgan $79.5 million, plus interest on that sum running from October 12, 2005, the date when the loan was issued.

Under the proposed agreement, RCM would also pay almost $1.2 million to cover JPMorgan’s attorneys’ fees and $26,135.59...
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