Refco Trustee Objects To Claims

Law360, New York (March 7, 2007, 12:00 AM EST) -- The U.S. Trustee for Refco Capital Markets Ltd. on Tuesday lodged objections to five proofs of claim brought during Refco Inc.’s bankruptcy proceedings, alleging the claims should be disallowed because of preferential payments made to the claimants.

U.S. Trustee Marc S. Kirschner objected to claims brought by five separate entities, arguing each “is obligated to, but has not returned to RCM preferential payments” paid out by RCM from their respective accounts in the days before Refco filed for bankruptcy.

Kirschner contends that, since the preferential payments...
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