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Refco Files Chapter 11 Reorganization Plan

Law360 (September 15, 2006, 12:00 AM EDT) -- At this time last year, the massive accounting fraud that felled futures broker Refco Inc. had not even been discovered. Now, less than a year after its Chapter 11 filing, Refco has filed its reorganization plan and disclosure statement.

The 56-page plan, which Refco filed on Friday in the U.S. Bankruptcy Court for the Southern District of New York, details exactly how the broker intends to emerge from Chapter 11 protection, under which it has been operating since last October.

The plan “contemplates the disposition of...
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