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Refco Seals $16M Deal Over Forex Claims

Law360 (December 14, 2007, 12:00 AM EST) -- A bankruptcy judge has signed off on Refco Inc.'s bid for approval of a deal that will see the fallen commodities brokerage shelling out more than $16 million to settle certain claims by Forex Capital Markets LLC.

In an order handed down Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Judge Robert D. Drain gave his blessing to the settlement after finding that it was fair and reasonable and in the best interests of the debtors.

Three claims by Forex –...
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