Refco indenture trustee agrees to drop appeal of securities customer settlement

By Caroline Salls

Pittsburgh, Oct. 27 - Refco, Inc. entered an agreement with indenture trustee Wells Fargo Bank, NA, under which Wells Fargo will allow the court to dismiss its appeal of Refco Capital Markets, Ltd.'s securities customers' settlement, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the filing, Wells Fargo has decided not to pursue the appeal.

Refco, a New York-based commodities brokerage company, filed for bankruptcy on Oct. 17, 2005. Its Chapter 11 case number is 05-60006.

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