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COMMERCIAL UNION ASSUR. CO. v. IVAN F. BOESKY & CO.

No. 87 Civ. 1865 (MP).

824 F.Supp. 348 (1993)

COMMERCIAL UNION ASSURANCE CO., PLC; Commercial Union Pensions Management, Ltd.; Gemini Overseas Corporation; Lewis E. Lehrman, Mercia Zurich, A.G., Overbrook Nominees, Ltd., and Strand Nominees, Ltd., Plaintiffs, v. IVAN F. BOESKY & COMPANY, L.P.; Seemala Partners, L.P.; Michael R. Milken; Lowell J. Milken; Dennis B. Seligmann, Harris & Co., Inc., Defendants.

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

May 3, 1993.

Attorney(s) appearing for the Case

Cadwalader, Wickersham & Taft by George D. Reycraft, Debra B. Steinberg, Michael Perino, New York City, for plaintiffs Commercial, Gemini, Mercia & Lehrman.

Paul, Weiss, Rifkind, Wharton & Garrison by Mark Belnick, David Kornblau, Steven Herzog, New York City, for defendant Michael Milken.

Lord Day & Lord, Barrett Smith by Michael O. Finkelstein, New York City, for defendant Lowell Milken.

DECISION

MILTON POLLACK, Senior District Judge.

The defendants Michael Milken and Lowell Milken move for summary judgment of dismissal of this suit pursuant to Rule 56, Federal Rules of Civil Procedure.

On March 21, 1986, plaintiffs invested a total of $11,511,674 in limited partnership interests in the Ivan Boesky and Co. L.P., a Delaware limited partnership formed on March 5, 1986 now known as CX Partners L.P., (the Partnership).

The investment...

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