Refco Brokerage Customers Want Unit Liquidated ASAP

Law360, New York (February 14, 2006, 12:00 AM EST) -- A group of customers of bankrupt Refco Inc. attempted to persuade a U.S. bankruptcy court judge on Tuesday to move the company’s unregulated broker-dealer unit to Chapter 7 liquidation proceedings immediately.

The debate raged in Manhattan bankruptcy court this week over what to do with the assets that customers had left in trading accounts at Refco Capital Markets.

Some RCM customers feel that they are entitled to have their assets back, prompting the group to file a motion with U.S. Bankruptcy Court Judge Robert Drain asking...
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