Refco Execs, Clients Clash Over Assets

Law360, New York (February 28, 2006, 12:00 AM EST) -- Former executives of bankrupt broker Refco Inc. and the company’s clients have once again locked horns in court, with both sides staking claim to the remaining assets held by offshore broker dealer Refco Capital Markets.

Customers and executives have clashed over whether money invested in Refco Capital Markets belonged to clients who invested it or to the brokerage. Clients have taken issue with the fact that Refco used their investments as collateral, saying that they did not know the firm was engaging in this practice....
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