Judge Approves Refco's Bankruptcy Plan

Law360, New York (December 17, 2006, 12:00 AM EST) -- A bankruptcy judge in New York approved futures broker Refco, Inc.’s reorganization plan on Friday, setting the stage for the company’s emergence from Chapter 11 with a plan approved by most of its creditors.

Objectors included Sphinx Funds, a group of class-action plaintiffs and an individual creditor.

“The settlements embodied in the plan are in the best interests of the various debtors . . . and are also fair and equitable,” said Judge Robert Drain of the U.S. Bankruptcy Court of the Southern District of New...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.