Refco Files for Bankrupcy - CNBC

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http://www.usatoday.com/money/industries/brokerage/2005-10-18-refco_x.htm?POE=NEWISVA

Refco files for bankruptcy, to sell core business for $768M
NEW YORK (AP) — Troubled commodities broker Refco (RFX) filed for Chapter 11 bankruptcy protection and said it had reached a preliminary deal to sell its core futures brokerage business to a group of private investors for $768 million.
The consortium of would-be buyers for Refco LLC is led by private buyout firm J.C. Flowers & Co., which specializes in taking distressed financial companies and either turning them around or selling the pieces to other companies.

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