Judge Orders Second Hearing On BAWAG Settlement

Law360, New York (June 28, 2006, 12:00 AM EDT) -- A bankruptcy court has delayed the approval of a settlement between creditors of bankrupt futures broker Refco Inc. and Austria’s Bank Für Arbeit und Wirtschaft AG, pushing a hearing on the $675 million deal to the end of the week.

Although the court was set to rule on the settlement Tuesday, a judge decided to schedule a second hearing on the matter to allow both parties time to tweak the exact language of the settlement.

At the Tuesday hearing, Refco’s creditors had objected to some of...
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