Jim Rogers Refco litigation result

risk1 · Jan 29, 2007

Hi all

Would anyone happen to know if final judgement has been issued in Jim Rogers' litigation against Refco over his commodity funds?

Cdntrader · Jan 29, 2007

Quote from risk1:

Hi all

Would anyone happen to know if final judgement has been issued in Jim Rogers' litigation against Refco over his commodity funds?
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he got it all back.

jimrockford · Jan 29, 2007

Can you post a link?

Cdntrader · Jan 29, 2007

Quote from jimrockford:

Can you post a link?

Rogersâ funds settle with Refco

Jennifer McCandless

04 Oct 2006
Hedge fund manager Jim Rogers has reached a settlement with Refco, the bankrupt futures and commodities broker, that reduces Rogersâ claims against the broker by more than 90%.

Two funds managed by Rogers - Rogers International Raw Materials Fund and Rogers Raw Materials fund - filed a $362m (â¬285m) suit against Refco to recover cash and securities they alleged were wrongly transferred to Refco Capital Markets, a unit of Refco. Under the terms of the settlement, the funds will receive an unsecured claim of just $30m against the company.

Beeland Interests, which managed the Rogers funds, and certain executives forfeit any additional claims they may have against Refco.

"The settlement with Refco, together with the settlement with Refco Capital Markets, brings an end to protracted litigation in the bankruptcy court, may provide a total recovery to the Rogers funds, and is in the best interests of the Rogers funds and their investors," said Walter Price, chief executive of Beeland Management Company, the operator of the two funds.

This latest settlement between Rogers and Refco follows an initial settlement in July that allowed the funds to recover at least $250m from Refco Capital Markets, the unregulated broker-dealer unit of the bankrupt company.

<b>Between the two settlements, the two Rogers funds may recover between 96% and 100% on their claims against the Refco debtors.</b> The settlement resolves numerous claims brought by the Rogers funds as well as claims between Refco and Refco Capital Markets, and further paves the way for a global settlement among all of the Refco bankruptcy estates.

The settlement is subject to bankruptcy court approval at a hearing scheduled for October 11.

Earlier this year, Rogers was sued by two of his investors over the transfer of $362m worth of assets from Refco to RCM.

http://www.financialnews-us.com/?page=ushome&contentid=1045584778
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Jim Rogers Refco litigation result

risk1

Cdntrader

jimrockford

Cdntrader