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43%  
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  • Refco files for bankruptcy, agrees to sell unit

    10/17/2005 9:50:35 PM PDT · by HAL9000 · 2 replies · 252+ views
    Reuters | October 18, 2005
    NEW YORK (Reuters) - Troubled commodities brokerage Refco Inc. said on Monday it had filed for bankruptcy protection as it struck a deal to sell its core futures brokerage business to a group of private equity investors for $768 million (439 million pounds). New York-based Refco said it and certain subsidiaries filed for bankruptcy protection on Monday as part of the memorandum of understanding with investors. None of Refco's regulated subsidiaries -- its futures brokerage business, which is conducted through Refco LLC, Refco Overseas Ltd. and Refco Singapore Ltd, and its broker-dealer, Refco Securities LLC -- filed for bankruptcy...