Underwriters Battle Discovery Bid In Refco Case

Law360, New York (March 10, 2006, 12:00 AM EST) -- The underwriters for Refco Inc. are fighting creditors’ attempts to investigate the lending institutions that backed the company’s public offering just two months before it buckled under massive financial strain.

Back in August 2005, a group of creditors had asked a bankruptcy court to examine the accounting records of eight banks that financed Refco’s $583 million initial public offering. The creditors are also looking for court approval in examining Refco’s leveraged buyout that took place in June 2004.

The eight underwriters filed court papers in the...
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