Refco creditors sue TH Lee for $1bn(2)

In the latest twist in the Refco saga, the company’s creditors have filed a $1 billion lawsuit against TH Lee, its founder and three executives, alleging they covered up Refco’s myriad problems, which eventually sunk the company and resulted in criminal charges for its CEO. TH Lee has issued a scathing response, calling the claims ‘misdirected and entirely without merit’.