2nd Circ. Asks NY Court To Mull Refco Trustee Claims

Law360 (December 23, 2009, 6:29 PM EST) -- Not one to go down easy, the bankruptcy trustee for Refco Inc. brought his suit implicating Mayer Brown LLP, KPMG LLP and other corporate giants in the massive Refco fraud to a federal appeals court, which has now turned to New York's highest court for guidance.

The U.S. Court of Appeals for the Second Circuit found Monday that trustee Marc S. Kirschner's fight to revive his claims against the clutch of corporate insiders raised critical unresolved questions concerning the bankruptcy trustee's standing under New York law to sue third parties for Refco's fraud.

The trustee alleges outside counsel Mayer Brown, auditors...

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