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Refco IP Auction: Patent Attorneys Say "Not So Fast"

Law360 (October 31, 2005, 12:00 AM EST) -- Patent attorneys are crying foul as bankrupt commodities broker 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 foreign exchange and commodities broker filed for bankruptcy amid allegations of 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...
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