Refco Unit Trustee Wants To Distribute $1.3B

Law360, New York (November 21, 2006, 12:00 AM EST) -- The Chapter 11 trustee appointed to steward Refco Capital Markets Inc. through bankruptcy has asked for permission to distribute $1.3 billion to creditors, a step the trustee sees as a key stepping stone to Refco Inc.’s eventual emergence from bankruptcy.

Last Friday, Refco Capital Markets’ trustee, Marc Kirschner, submitted a motion for an order authorizing the first interim distribution toward allowed claims pursuant to Refco Inc.’s Chapter 11 plan. Kirschner hopes to start handing out funds by the end of 2006, the motion says.

The purpose...
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