Refco CEO Arrested, Released on $50M Bond

Law360, New York (October 13, 2005, 12:00 AM EDT) -- Patent attorneys are crying foul as bankrupt Refco Inc.’s intellectual property is readied for the auction block, claiming infringing technology is not part of an estate and therefore cannot be sold under bankruptcy law.

The notorious foreign exchange and commodities broker filed for bankruptcy amid securities fraud and white collar crime, prompting the U.S. Bankruptcy Court in Manhattan to order the auction of Refco’s flagship unit and its intellectual property.

But software developer Trading Technologies claims the sale would be illegal, given Refco’s ongoing patent litigation...
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