Who's buying Refco??? Get real...

Discussion in 'Wall St. News' started by PohPoh, Nov 7, 2005.

  1. Alaron??

    What a load of crap...lots of posturing by these no namers...
    I can't blame them - I would be doing the same if I was 2nd tier...

    Refco did 220 million contracts last month..
    Only the deepest of all pockets will do...

    And believe you me, everyone will get their money back...
    Unregulated and regulated alike...
  2. I hope so :)

    But am expecting nothing :mad:
  3. IT WAS THE SECOND COMING OF CME, until the sudden death.

    I was lucky not knowing RFC before the sudden death.
  4. nassau


    Now that would be a nice gift.
    but until then I am being proactive and buying and selling rfxcq

    my question to you is?
    rfxcq -rfx is trading on the pink sheets, do you see the stock clearing up and regaining listing or do you see rfx being taken over and existing share holders receiving a new stock as if a merger has taken place.......just a question..how you see us / you getting money back.

  5. How does FXCM fit in?

    I think they want the RefcoFX part but it seems that they accounts will be empty.
  6. If any of those firms buys Refco...I will eat my hat and your too...
    The only one with a chance is Dubai...
  7. look at it the other way pal, how does doing nothing increase your chances of getting a more favourable settlement?? probably not much, right? as for the company being bankrupt, thats only one part of the equation, despins (milbank) is going after bennett & other former executives pay-offs, there is a lot of money out there...

    now u cld simply choose to let despins do his job and relax if u can, or u cld try to turn up the heat on all of the suspected beneficiaries from the whole refco charade EVEN MORE, as globalfxtrainer rightly, i believe, is trying to do... same rationale... (hope we don't need to go into the merits of class-action lawsuits in general...)
  8. donaq7 i meant...
  9. range


    Refco Bidder Alaron Has Been Ruled Out of Auction (Update1)

    Nov. 9 (Bloomberg) -- Alaron Trading Corp., one of five bidders to buy assets of bankrupt futures broker Refco Inc., has been ruled out of a bankruptcy auction, Chief Executive Steven Greenberg said in an interview today.

    ``The bottom line is we're not going to be able to bid,'' said Greenberg. ``We're disappointed.''

    Refco is holding an auction today to help pay debts after filing the 14th-largest bankruptcy in U.S. history following disclosure that former Chief Executive Officer Phillip Bennett hid $430 million of debt. Man Group Plc, the world's biggest publicly traded hedge fund manager, Interactive Brokers Group LLC, and a group led by the Dubai government had said they intend to bid for Refco's assets.

    Refco in New York hasn't identified the companies bidding or the value of their offers.

    Chicago-based Alaron, founded in 1989, offers trading in energy, metals, grains and other commodities, as well as currencies and securities. It specializes in individual accounts and was seeking to expand through a Refco acquisition.

    Alaron's lawyers received a voice mail message in the ``middle of the night'' saying Refco wasn't qualified, Greenberg said. He said the company wasn't told a reason.

    Alaron Managing Partner Gary Weber said in an interview that the auction was ``shrouded in mystery.''

    The company probably wasn't disqualified because its bid was too small or because of a ``money issue,'' Weber said. More likely, it was a ``legal or technical issue'' involving the documents outlining Alaron's bid, he said.

    To contact the reporters on this story:
    Ann Saphir in Chicago at asaphir@bloomberg.net

    Last Updated: November 9, 2005 08:50 EST
  10. lol
    #10     Nov 9, 2005