Refco Whittles Away At Remaining Claims

Law360, New York (November 19, 2007, 12:00 AM EST) -- The administrators of Refco Inc.'s Chapter 11 bankruptcy have managed to slash the fallen futures brokerage's claims by a few million dollars by getting them tossed from the case.

Judge Robert Drain of the Manhattan bankruptcy court handed down his order Friday, allowing the debtors to expunge 13 claims totaling almost $1 million because, he said, they were inconsistent with Refco's books. He also expunged four claims, totaling more than $46,000, that he found were duplicates of ones that had already been paid.

Drain also effectively...
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