Lee Demands Refco Insurance Cover Legal Costs

Law360, New York (March 21, 2006, 12:00 AM EST) -- The financier who engineered bankrupt Refco Inc.'s initial public offering in 2005 has accused Refco's creditors of unfairly trying to block him from using the commodity brokerage giant’s insurance policies to pay his legal costs.

In court papers filed this week, Thomas H. Lee, argued that there was “no basis whatsoever” to deny his access to insurance intended for recovering defense costs.

Lee, the founder of $12 billion private equity firm Thomas H. Lee Partners, served as a member of Refco's board of directors, along with...
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