Refco Bankruptcy Stalls Amid Creditor Complaints

Law360, New York (January 18, 2006, 12:00 AM EST) -- The bankruptcy proceedings for futures broker Refco Inc. have been anything but smooth, plagued by conflicts between the company, its creditors, its board of directors and the U.S. Trustee in charge of the case.

Most recently, Refco’s unsecured creditors asked a bankruptcy court judge to postpone the auction of the company’s foreign assets for at least two weeks, claiming that foreign exchange broker Forex, the lead bidder, was late in providing information to other bidders.

The assets earmarked for auction include about 15,000 client accounts at...
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