Refco: International Impact
October 27th, 2005 by
Theodore Eppenstein
As reported in multiple news services, the international implications of the collapse and bankruptcy of Refco Inc. intensified in October 2005, just two months after its IPO. Austrian authorities were looking into the circumstances surrounding the $350 million euros loan by Austrian bank BAWAG to a company controlled by former Refco CEO Phillip Bennett, just before Refco’s Chapter 11 filing. It was also reported that Venezuelan securities authorities were investigating the fallout to local businesses there. Moscow-based hedge fund VR Group and related entities were reported to be one of the largest unsecured creditors of Refco, along with BAWAG and Wells Fargo. Read the rest of this entry »
Posted in Securities Arbitration & Litigation


