Judge Delays Ruling On Refco Creditors' Split

Law360, New York (August 10, 2006, 12:00 AM EDT) -- A bankruptcy judge attempted to quell a heated dispute Thursday over controversial changes to Refco Inc.’s creditors committee so that negotiations can move forward on a $263 million settlement that would steer Refco closer to emerging from bankruptcy.

U.S. Bankruptcy Judge Robert Drain pushed off a final decision on bids from some committee members to revert back to the original committee before a Justice Department official intervened with last-minute changes. The acting U.S. Trustee in New York had divided the nine-member committee into two groups as...
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