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The new creditors' committee disclosure and solicitation obligations: the Refco blueprint!(CREDIT COLUMN)
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), that became effective for bankruptcy cases filed on or after October 17, 2005, has resulted in the most significant change in bankruptcy law in a generation. One of the areas where the BAPCPA has significantly changed bankruptcy practice is the new requirement that creditors' committees grant access to information to--and solicit comments about the case from--creditors who are not committee members and whose interests the committee represents.
This new provision does not define "information" and has raised many questions about what "information" committees must disclose to constituent ...
- Refco Responds to FXCM Decision to Pull Out From Agreement to Acquire Refco FX...
- Press release article from: PR Newswire March 30, 2006 700+ words
...000 client accounts of Refco FX Associates LLC and...share of FXCM owned by Refco: Due to objections made...Official Committee of Unsecured Creditors and the Agent for the...from its deal with our Refco F/X Associates, LLC...
- Tension Eases In Loan Market As Refco Files, Flowers Steps In.
- Newspaper article from: Bank Loan Report Kantin, Kerry October 24, 2005 700+ words
...11 Laws Even though Refco filed for bankruptcy...have a major impact on Refco or the recovery of its unsecured creditors. "I just don't think...expected to greatly affect Refco's unsecured creditors. "That would probably...
- Refco's Chapter 11 Plan Becomes Effective.
- Press release article from: PR Newswire December 26, 2006 700+ words
...cents on the dollar for their claims, and Refco Capital Markets' general unsecured creditors are expected to receive approximately 37...General unsecured creditors at the other Refco companies are expected to receive between 23...
- Broker Refco's bankruptcy hits Cargill, Leuthold firm; The agribusiness giant...
- Newspaper article from: Star Tribune (Minneapolis, MN) Fiedler, Terry October 21, 2005 700+ words
...of New York futures broker Refco Inc. earlier this week is...firm Leuthold Weeden are among Refco's 50 largest unsecured creditors. For Minnetonka-based agribusiness...only the money it is owed by Refco that's at risk - $67 million...
- Refco Wins Confirmation of Chapter 11 Plan.
- Press release article from: PR Newswire December 15, 2006 700+ words
...Harrison J. Goldin, Refco's chief executive...Chapter 11 Trustee for Refco Capital Markets added...official committees of unsecured creditors, secured lenders...for their claims; Refco Capital Markets' securities...claims; and general unsecured creditors are expected to ...
- Refco Delays Auction, Related Deadlines for Proposed Sale of Retail Foreign...
- Press release article from: PR Newswire January 20, 2006 700+ words
...retail client accounts of Refco FX Associates LLC (http...FXCM) currently owned by Refco. FXCM, a Futures Commission...stalking horse" bidder FXCM and Refco's Official Committee of Unsecured Creditors and the Agent for its bank...
- Banks face action by Refco creditors.
- Newspaper article from: The Evening Standard (London, England) March 3, 2006 700+ words
...raise funds to pay creditors. Refco's futures brokerage was...billion. Earlier this week, Refco won court approval to auction...foreign exchange accounts at Refco FX Associates. Forex Capital...million, but the committee of unsecured creditors and some lenders have said...
- Market Gainer Releases Upate for Refco Incorporated.
- Press release article from: M2 Presswire December 12, 2005 700+ words
...United Kingdom. Shares of Refco Incorporated shot up today...Friday December 9, 2005. Refco Incorporated announced that they promised its unsecured creditors they won't use, liquidate...unregulated offshore unit, Refco Capital Markets Ltd. The...
