Refco's $2B Deal Delayed Once Again

Law360, New York (August 24, 2006, 12:00 AM EDT) -- The fate of a proposed $2 billion settlement to wrap up Refco Inc.’s contentious bankruptcy proceedings is still up in the air after a federal bankruptcy judge Thursday once again postponed a decision on the deal.

According to U.S. Bankruptcy Judge Robert Drain, the new delay, which puts off the hearing to Friday morning, will give battling parties additional time to iron out their differences through negotiators.

Judge Drain hopes the combatants, Refco’s customers and creditors, will fix potential problems that could threaten the deal down...
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