Refco exits from Ch. 11 bankruptcy protection

Dec 28, 2006 | 02:15 PM | Sean Barry

Commodities brokerage Refco Inc. has emerged from Chapter 11 bankruptcy protection and is expected to start paying creditors by the end of the year.

Under the terms of the exit plan, which was approved by the U.S. Bankruptcy Court for the Southern District of New York on Dec. 15, secured lenders who were owed $717.7 million received a full cash payment prior to confirmation of the plan, while bondholders are expected to receive 83.4 cents on the....

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