Federal Judge Refuses To Mediate Refco Document Spat

Law360, New York (May 19, 2006, 12:00 AM EDT) -- A federal judge in Manhattan has decided to stay out of a bankruptcy feud between Refco Inc.’s creditors and the investment banks that underwrote the company’s initial public offering for $583 million in August 2005.

Although the IPO underwriters asked the federal judge to mediate a dispute over whether the underwriters need to turn over confidential papers to Refco’s creditors, U.S. District Judge Gerard Lynch denied the motion, ruling that the bankruptcy matter should be handled by Refco’s bankruptcy judge.

“[N]either efficiency nor cost concerns support...
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