RFX Where does it go from here?
- Thread starter tnewman1
- Start date
News is out. Looks bankrupt.
The Company stated that the regulatory capital and excess regulatory capital of Refco, LLC, its regulated Futures Commission Merchant, and Refco Securities, LLC, its regulated Broker Dealer, have been substantially unaffected by the events of this week. The business at these subsidiaries is being conducted in the ordinary course including customer deposit and withdrawal of segregated funds.
In light of recent events, the liquidity within the Company's non regulated subsidiary Refco Capital Markets, Ltd., which represents a material portion of the business of the Company, is no longer sufficient to continue operations. The Company has therefore imposed a 15 day moratorium on all activities of Refco Capital Markets, Ltd. to protect the value of the enterprise.
http://biz.yahoo.com/prnews/051013/nyth091.html?.v=28
In light of recent events, the liquidity within the Company's non regulated subsidiary Refco Capital Markets, Ltd., which represents a material portion of the business of the Company, is no longer sufficient to continue operations. The Company has therefore imposed a 15 day moratorium on all activities of Refco Capital Markets, Ltd. to protect the value of the enterprise.
http://biz.yahoo.com/prnews/051013/nyth091.html?.v=28
It would be a shock to me if anyone can get their money out today.
sue the auditors, underwriters, etc.
thank allah for attorneys like elliot spitzer.
thank allah for attorneys like elliot spitzer.
Quote from chewbacca:
Who's the winner in all this? Who will take their business? Who were the underwriters of the IPO? What's their liability?
Why create another redundant Refco thread?
http://companyboardroom.com/company.asp?client=cb&ticker=rfx