I'm from Vancouver and would like to know why I ended up with an American account? I'm in British Columbia and had to fill out the extra paper work.
Again, Click on Live Chat on www.refcofx.ca and you will get the following: RefcoFX Associates LLC is formally operating under Chapter 11 bankruptcy protection at present time. At this time, the information we have is that there are numerous potential purchasers who are interested in buying the futures division and other entities of the Refco Group. We anticipate that the proceeds will help expedite the repayment of customer funds to RefcoFX Associates LLC and that any freeze of their funds/accounts is temporary. The Refco board has expressed interest in selling divisions to buy out firms, and we expect arrangements to be made in a fairly short period of time. The Refco board of directors, as well as attorneys and regulators, are working diligently in consummating a deal, and we believe that new ownership will restore clients and business activity back to normal. As per news releases, it appears that an agreement with bidders is imminent. The Refco Group has still instructed us to delay payments out of ALL Refco accounts UNTIL they sort out banking and internal matters. RefcoFX Canada and Refco Forex Ltd in Hong Kong are the ONLY exceptions. The process we are now involved in on behalf of our customers could potentially last weeks to months, not hours or days. At this time this is all the information that we have. As we recieve more information from the REFCO Group we will make it available on the site. For questions not relating to the above please email sales@refcofx.com or use the following form. Now, they say the funds are insured. But are they really??? When you file a insurance claim with som insurance car insurance company, do they not often try to get out of paying the claim, but the very tiny superscript writing on page 66 located in the margin. I'm not trying to put down Refco. I actually was quite happy with with until recent. Just check out their page now, and click live chat? And ask yourself what do they mean...
:eek: :eek: Woops. I'm sorry. RefcoFX Canada is an exception. Those customers still can withdrawal. I just saw the standard, we and you are all domed message, and didn't read the whole thing. Sorry. Mea Culpa
Not with emails david.bilodeau@hec.ca and refco_corporate_account@hotmail.com you are an account executive.
Well if it came to it, I wouldn't take the bankrupt firm's word -- I would check with the CIPF. They are the ones providing the coverage in the event of insolvency; and it seems clear to me that this is exactly the type of thing that that fund is setup to provide coverage for.
----------- I don't know what information, if any, we could obtain from this guy ... but he surely knows a lot more that we do ... Luc Despins: lawyer for Refco's unsecured creditors. Luc A. Despins 212-530-5660 ldespins@milbank.com http://www.milbank.com/att_partner_bio/despins_luc_main.htm
http://quote.bloomberg.com/apps/news?pid=conews&tkr=RFX:US Refco Agrees to Temporarily Preserve Unit's Accounts (Update2) November 3, 2005 18:12 EST -- Refco Inc., which filed for bankruptcy last month, agreed to preserve cash and securities being held in accounts at its Refco Capital Markets Ltd. subsidiary through at least Nov. 9 to alleviate concerns that the accounts are being liquidated.