Judge Witholds Full Consent For Refco's Bonuses

Law360, New York (April 4, 2006, 12:00 AM EDT) -- Moderately swayed by Refco’s pleas, a federal bankruptcy judge has partially approved the struggling commodity brokerage’s request to pay key employees up to $4.1 million in bonuses and severance to prevent them from jumping ship.

On Friday, U.S. Bankruptcy Judge Robert Drain granted Refco's bid to give 24 employees incentive bonuses in order for them to stay with the beleaguered company as its operations continue to wind down over the next year.

But Drain delayed authorizing bonuses for 14 employees of Refco's unregulated offshore unit, Refco...
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