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Judge OKs Document Subpoena In Refco Bankruptcy

Law360 (November 30, 2005, 12:00 AM EST) -- A federal bankruptcy court Wednesday refused to delay a request by Refco Inc.'s unsecured creditors to subpoena records connected with the company's collapse.

Judge Robert Drain, who is overseeing the Chapter 11 proceedings, said the committee could demand documents related to the losses hidden by former chief executive Phillip Bennett and to Refco's $583 million initial public offering in August.

The committee needs the documents to move forward and would comply with confidentiality restrictions, Drain noted in his decision.

The committee is demanding records from Phillip...
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