Refco Asks Court To Transfer Unit Back To Chapter 11

Law360, New York (February 10, 2006, 12:00 AM EST) -- In an about-face, beleaguered brokerage giant Refco has requested that its core futures business be moved back into Chapter 11, only two months after asking that it be moved out.

Refco filed the motion in U.S. Bankruptcy Court in Manhattan on Wednesday, pleading for the court to shift its former futures brokerage Refco LLC back from Chapter 7 proceedings.

"By permitting such conversion, the Chapter 11 debtors’ cases and the Chapter 7 debtors’ case will result in a more efficient administration of the estate," Refco said....
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