Judge Turns Deaf Ear To Refco Creditors' Protests

Law360, New York (June 27, 2006, 12:00 AM EDT) -- The court-appointed Trustee for Refco Capital Markets Ltd. has received court approval to hire three firms to represent the company, despite protests from a group of creditors that fears the firm retention will hinder its chances of recovering funds.

Judge Robert Drain of the U.S. Bankruptcy Court for the Southern District of New York approved the retention of law firm Skadden Arps Slate Meagher & Flom and restructuring firms Goldin Associates and AlixPartners.

In giving Trustee Marc S. Kirschner permission to hire the firm, Drain dismissed...
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