Rogers Funds Agree To $2.3B Refco Unit Settlement

Law360, New York (July 21, 2006, 12:00 AM EDT) -- Two investment funds affiliated with commodities trader Jim Rogers gave up their fight Thursday and joined a settlement with Refco Capital Markets (RCM) after weeks of holding up the deal that would allow customers of Refco to recover $2.3 billion lost as a result of the commodities brokers’ bankruptcy.

The Rogers funds had effectively stalled a pact made between more than 50 Refco customers and a court-appointed Trustee of Refco’s unregulated Bermuda unit, Refco Capital Markets (RCM). The funds’ tactic had threatened to upset the unit’s...
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