Judge Denies Refco Customers' Fee Bid

Law360, New York (May 25, 2007, 12:00 AM EDT) -- Amid multimillion-dollar payouts to creditors, defunct brokerage Refco Inc. scored a small victory when a bankruptcy court denied an investor committee's request for legal fee reimbursement.

Judge Robert Drain of the the U.S. Bankruptcy Court of the Southern District of New York issued the order on Wednesday in response to the an application made in November 2006 by an ad hoc committee of customers of Refco's offshore brokerage, Refco Capital Markets Ltd.

The application had requested $315,000 for services rendered in the firm's bankruptcy proceedings by...
To view the full article, register now.