Refco Asks Christie’s To Auction Off Its Art

Law360, New York (January 26, 2006, 12:00 AM EST) -- Beleaguered brokerage firm Refco Inc. has enlisted the help of Christie’s auction house in its struggle to emerge from bankruptcy and repay $16.8 billion in debts.

On Wednesday, Refco filed a motion with the U.S. Bankruptcy Court of the Southern District of New York, asking for a judge to grant Christies permission to auction off Refco’s storied art collection, worth an estimated $7 million.

In addition to paintings, sculptures, and prints, the collection consists of over 500 photographs by artists such as Cindy Sherman, Charles Ray,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.