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DREXEL BURNHAM LAMBERT GROUP, INC. v. GALADARI

Nos. 84 Civ. 2602 (CBM), 90 Civ. 2140 (CBM).

127 B.R. 87 (1991)

The DREXEL BURNHAM LAMBERT GROUP, INC., Plaintiff, v. A.W. GALADARI and A.W. Galadari Commodities, Defendants. REFCO, INC., Plaintiff, v. Abdul Wahab Bin Ebrahim GALADARI and A.W. Galadari Commodities, Defendants, The Committee of Receivers for Abdul Wahab Bin Ebrahim Galadari and A.W. Galadari Commodities, Additional Defendant.

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

April 8, 1991.

Attorney(s) appearing for the Case

Bickel & Brewer by Carlton Asher, Jr., New York City, for Committee of Receivers.

Richards & O'Neil by Edward Powers and Natalie Gomez, New York City, Thomas Hill, West Palm Beach, Fla., for Drexel Lambert.

Graubard Millen Horowitz Pomeranz & Shapiro by Therese M. Doherty and Marianne Bretton-Granatoor, New York City, for Refco.

SUPPLEMENTAL OPINION RE: VACATING STAY

MOTLEY, District Judge.

SUPPLEMENTAL FINDINGS OF FACT AND CONCLUSIONS OF LAW

PRELIMINARY STATEMENT

This is a motion by plaintiff Refco, Inc. ("Refco") to vacate the stay of this action imposed by this Court's Order dated January 4, 1991, in favor of a foreign liquidation proceeding in Dubai, United Arab Emirates. Refco argues that the receivership proceedings in Dubai are fundamentally unfair and...

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