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Troubled commodities broker Refco Inc. has filed for Chapter 11 bankruptcy protection and said it has reached a preliminary deal to sell its core futures brokerage business to a group of private investors for $768 million. The consortium of prospective buyers is led by private buyout firm J.C. Flowers & Co. The investors are purchasing just the commodities business, which remains solvent; the rest of Refco filed for bankruptcy late Monday night.
October 19, 2005 at 12:00 AM
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The original version of this story was published on Law.Com
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