February 2006 - Refco saga continues with veto of FXCM deal
REVIEW OF THE YEAR
The creditors said the $110 million bid did not reflect the true value of the business. FXCM said the deal would provide full funding for the RefcoFX clients who were affected by the business's collapse.
The $110 million figure was arrived at following an auction set up by the New York Bankruptcy Court.
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