Skadden Arps Slate Meagher & Flom and Bingham McCutchen have emerged among the big winners on the Refco bankruptcy, with Skadden alone trousering around $45m (£22m) in fees.

Skadden was the main adviser to the struggling futures broker on its bankruptcy, which was filed in October 2005, while Bingham is advising the court-appointed administrator, Marc Kirschner, on what looks set to be a lengthy clean-up process.