Refco Secures Exclusivity Extension

Law360, New York (September 1, 2006, 12:00 AM EDT) -- A federal judge on Thursday extended Refco Inc.’s exclusivity period until Sept. 12, thus giving the bankrupt brokerage firm 11 more days to negotiate a repayment plan.

“The relief requested in the motion is in the best interests of the debtors, their estates, their creditors and other parties in interest,” wrote Judge Robert Drain of the U.S. Bankruptcy Court in Manhattan.

Drain is still hoping the battling parties in the case, including Refco’s customers and creditors, will iron out their differences and fix potential problems that...
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