Law360, New York (October 02, 2006, 12:00 AM ET) -- The ad hoc committee of equity holders in the Refco Inc. bankruptcy has filed an objection to the allocation of the funds gained from a settlement between the bankrupt futures brokerage and Austrian bank Bawag P.S.K.
The committee offered a slew of reasons for its objection, claiming that “it is a product of subsidiary creditor self-dealing, applies the wrong legal standard, ignores the required factors in the court’s settlement order, argues improper and irrelevant grounds for approval, misstates the record, drastically understates the value of parent...
Committee Objects To BAWAG Settlement Allocation
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