Refco Creditor Devises Plan For Customer Asset Recovery

Law360, New York (February 2, 2006, 12:00 AM EST) -- In what could be a windfall for Refco customers, one of the commodities broker’s creditors has come up with a proposal that would resolve the question of what to do with the assets customers had kept in accounts at Refco Capital Markets.

Refco creditor Abadi & Co. has proposed a plan that would allow those who invested in Refco Capital Markets, Refco’s unregulated broker-dealer arm, to recover up to 100% of their assets.

The plan would return all investments to customers if they agree to accept...
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