Judge Approves Refco Chapter 11 Plan, With Provisions

Law360, New York (October 16, 2006, 12:00 AM EDT) -- Bolstering Refco Inc.’s efforts to exit bankruptcy proceedings by the end of the year, a federal judge on Monday tentatively approved an outline of the beleaguered company’s Chapter 11 reorganization plan and, with some clarification, its disclosure statement.

Judge Robert Drain of the U.S. Bankruptcy Court in Manhattan said that he wanted some clarification and additional disclosures before the plan documents could be sent to the company’s creditors.

“Subject to my seeing certain amendments, I approve the disclosure statement,” said Judge Drain. He said he hoped...
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