Refco Trustee Objects To Costs, Creates Committee

Law360 (August 4, 2006, 12:00 AM EDT) -- The ballooning costs of Refco’s bankruptcy have triggered an objection from the U.S. Trustee overseeing the commodities broker’s Chapter 11 case, who also appointed a new creditor's committee on the heels of complaints from claimants.

U.S. Trustee Diana G. Adams’ objection, filed Thursday, tallies up the bills submitted by professionals retained by the estate thus far, and puts the total expense to the debtors’ estate at more than $60 million.

Professionals retained to guide Refco through bankruptcy—such as lawyers, consultants, and financial advisors—have submitted bills covering...
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