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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.