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AMERICAN INTERN. SPECIALTY LINES INS. v. TOWERS

94 Civ. 2727 (WK) (AJP).

198 B.R. 55 (1996)

AMERICAN INTERNATIONAL SPECIALTY LINES INS. CO., et al., Plaintiffs, v. TOWERS FINANCIAL CORPORATION et al., Defendants.

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

May 31, 1996.

Attorney(s) appearing for the Case

John J. Patterson, D'Amato & Lynch, New York City, for plaintiffs.

Bill Boyd, Boyd Veigel, McKinney, TX, for defendants.

MEMORANDUM AND ORDER

WHITMAN KNAPP, Senior District Judge.

Before us is Magistrate Judge Peck's Report and Recommendation recommending that we deny the motion of Ben Barnes ("defendant"), a Towers' director, to dismiss the Amended Complaint of American International Specialty Lines Insurance Company and National Union Fire Insurance Company ("plaintiffs" or "the insurers") against the Towers Financial Corporation and individual directors thereof....

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