Judge Approves Refco's Bankruptcy Plan

Law360 (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...
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