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MINPECO, S.A. v. CONTICOMMODITY SERVICES, INC.

Nos. 81 Civ. 7619 (MEL), 82 Civ. 1318 (MEL), 84 Civ. 7934 (MEL).

673 F.Supp. 684 (1987)

MINPECO, S.A., Plaintiff, v. CONTICOMMODITY SERVICES, INC., Conticapital Management, Inc., Conticapital Limited, Norton Waltuch, Nelson Bunker Hunt, Lamar Hunt, William Herbert Hunt, International Metals Investment Co., Ltd., Sheik Mohammed Aboud Al-Amoudi, Sheik Ali Bin Mussalem, Naji Robert Nahas, Gilion Financial, Inc., ACLI International Commodity Services, Inc., Banque Populaire Suisse, Advicorp Advisory and Financial Corporation, S.A., Mahmoud Fustok, Merrill Lynch, Pierce, Fenner & Smith, Inc., Bache Halsey Stuart Shields, Inc., E.F. Hutton & Company, Inc., Commodity Exchange Inc., the Board of Trade of the City of Chicago, Continental Grain Company, and Walter Goldschmidt, Defendants. Ronald GORDON, Plaintiff, v. Nelson Bunker HUNT, William Herbert Hunt, Lamar Hunt, International Metals Investment Co., Ltd., Sheik Mohammed Aboud Al-Amoudi, Sheik Ali Bin Mussalem, Faisal Ben Abdullah Al Saoud, Mahmoud Fustok, Naji Robert Nahas, Bache Halsey Stuart Shields, Inc., Bache Group, Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., Conticommodity Services, Inc., Conticapital Management, Inc., Conticapital Ltd., Norton Waltuch, Melvin Schnell, Gillion Financial, Inc., Banque Populaire Suisse, Advicorp Advisory and Financial Corporation, S.A., Commodity Exchange, Inc., the Board of Trade of the City of Chicago, ACLI International Commodity Services, Inc., Litardex Traders, S.A., and John Does Nos. 1 Through 15, Defendants. Philip and Dorothy KORWEK, Mary Finkelstein, William L. Cohn and James G. Williams, Plaintiffs, v. Nelson Bunker HUNT, William Herbert Hunt, Lamar Hunt, International Metals Investment Co., Ltd., Sheik Mohammet Aboud Al-Amoudi, Sheik Ali Bin Mussalem, Faisal Ben Abdullah Al Saoud, Mahmoud Fustok, Naji Robert Nahas, Bache Halsey Stuart Shields, Inc., Bache Group, Inc. (Prudential Bache Securities, Inc.), Merrill Lynch, Pierce, Fenner & Smith, Inc., Conticommodity Services, Inc., Conticapital Management, Inc., Conticapital Ltd., Norton Waltuch, Melvin Schnell, Gilion Financial, Inc., Banque Populaire Suisse, Advicorp Advisory and Financial Corporation, S.A., Commodity Exchange, Inc., the Board of Trade of the City of Chicago, Donaldson, Lufkin & Jenrette, ACLI Futures, Inc., formerly, ACLI International Commodity Services, Inc., Litardex Traders, S.A., Walter Goldschmidt, Continental Grain Co., Defendants.

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

November 17, 1987.

Attorney(s) appearing for the Case

Cole & Corette, Washington, D.C., for plaintiff Minpeco, S.A.; Mark A. Cymrot, Thomas O. Gorman, Scott D. Andersen, of counsel.

Deutsch & Frey, New York City, for plaintiffs Ronald Gordon and Philip and Dorothy Korwek.

Kaye, Scholer, Fierman, Hays & Handler, New York City (Aaron Rubinstein, Stanley D. Robinson, Phillip A. Geraci, Manvin S. Mayell, of counsel), Gardere & Wynn, Dallas, Tex. (Robert E. Wolin, of counsel), for defendant Lamar Hunt.

Curtis, Mallet-Prevost, Colt & Mosle, New York City, for defendant Mahmoud Fustok; Herbert Stoller, Turner P. Smith, of counsel.

Rogers & Wells, New York City, for defendants ACLI Intern. Commodity Services, Inc. and Merrill Lynch, Pierce, Fenner & Smith, Inc.; William R. Glendon, Jerry W. Markham, of counsel.

Debevoise & Plimpton, New York City, for defendant ACLI Intern. Commodity Services, Inc.; Andrew C. Hartzell, Jr., Michael E. Wiles, Edwin G. Schallert, Jonathan Richman, Mary Sue Henifin, of counsel.

Sullivan & Cromwell, New York City, for defendants Prudential-Bache Securities, Inc. and Bache Group Inc.; Marvin Schwartz, Richard H. Klapper, John L. Hardiman, of counsel.

LASKER, District Judge.

In this action arising out of the crisis in the silver market in 1979-1980, Minpeco alleges that, under the leadership of Bunker and Herbert Hunt, a number of silver futures traders and the brokerage houses who handled their silver futures accounts participated in a conspiracy to manipulate upward the price of silver and silver futures. Five defendants have moved for summary judgment on the ground that the evidence of record is insufficient...

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