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DREXEL BURNHAM LAMBERT GROUP INC. v. GALADARI

No. 84 Civ. 2602 (CBM).

610 F.Supp. 114 (1985)

The DREXEL BURNHAM LAMBERT GROUP INC., Plaintiff, v. A.W. GALADARI and A.W. Galadari Commodities, Defendants.

United States District Court, S.D. New York.

May 20, 1985.

Attorney(s) appearing for the Case

Richards O'Neil & Allegaert by Charles E. Dorkey, III, and Paul J. Hanly, Jr., New York City, for plaintiff.

Gaston Snow Beekman & Bogue by Carlton R. Asher, Jr., New York City, for defendants.

OPINION

MOTLEY, Chief Judge.

In this diversity action, plaintiff Drexel Burnham Lambert Group, Inc. (Drexel) sues to collect for default on a Note for approximately $19 million of which approximately $12 million remains unpaid. Defendants, a major Middle Eastern banker and businessman and his company, executed the Note to cover losses on their commodities account with Drexel. This matter is before the court on plaintiff's motion for summary judgment and...

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