Judge OKs $1.4M In Bonuses For Refco Employees

Law360, New York (January 19, 2006, 12:00 AM EST) -- Desperate to keep current employees from jumping ship, futures broker Refco got the green light from a bankruptcy court judge to pay $1.4 million in retention bonuses to 32 employees.

The plan was approved by U.S. Bankruptcy Court Judge Robert Drain after a hearing held earlier this week.

The bonuses are to be received by employees that have “the knowledge and expertise necessary to lead the wind-down” at the embattled firm, once the largest futures broker in the country.

Six employees of Refco F/X Associates, 11...
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