Tico Assets Frozen in Refco Bankruptcy Should Be Safe
COSTA Rican assets that werefrozen as part of the bankruptcy proceedingsfor the U.S.-based futures and commoditiesbrokerage house Refco appearto be safe, as they were invested in U.S.Federal Government bonds, which aregovernment-insured, the daily LaRepública reported.Because the bonds are in the namesof institutions or private parties, theywill be returned to the owners after thejudge in the bankruptcy hearing sets adate. In the meantime, the bonds willcontinue to accrue interest, the dailyreported.The Costa Rican brokerage firmsAldesa Valores, INS Valores, Mercado deValores, and Popular Valores all havehad assets frozen in the proceedings.
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