We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Refco Trustee's Objections "Lone Voice In Wilderness"

Law360 (August 30, 2006, 12:00 AM EDT) -- A $2.3 billion settlement proposed by the Chapter 11 Trustee for Refco Inc.’s offshore unit will massively overpay claimants and delay the looming liquidation of Refco’s former flagship unit, according to an objection filed this week by a Chapter 7 Trustee.

Albert Togut, Chapter 7 Trustee for Refco LLC, said in court documents that his warnings about the settlement were falling on deaf ears, making his objection “a lone voice in the wilderness.”

Togut warned that the proposed deal between customers and Refco’s unregulated Bermuda-based unit,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.