Grant Thornton Should Pay Own Refco Costs: Report

Law360, New York (April 11, 2011, 8:59 PM EDT) -- Grant Thornton LLP should not be able to force Refco Inc. backer Thomas H. Lee Equity Fund V LP to pay most litigation fees associated with the Refco collapse, a special master said in New York on Monday.

New York case law does not favor having THL — accused of drawing Grant Thornton into the litigation through its own wrongdoing — to pay the accounting firm's legal costs since both are parties to the litigation, Special Master Daniel J. Capra said in a report filed in...
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