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IN RE DREXEL BURNHAM LAMBERT GROUP, INC.

No. 92 Civ. 5907 (MP), Bankruptcy No. 90 B 10421 (FGC).

148 B.R. 993 (1992)

In re The DREXEL BURNHAM LAMBERT GROUP, INC., et al., Debtors. The DBL LIQUIDATING TRUST, as successor to debtors, the Drexel Burnham Lambert Group, Inc., and Drexel Burnham Lambert Incorporated, Appellant, v. P.T. TIRTAMAS MAJUTAMA Appellees.

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

December 21, 1992.

Attorney(s) appearing for the Case

Cahill Gordon & Reindel (Susan Buckley, of counsel), New York City, for appellant.

Lasky, Haas, Cohler & Munter (Charles B. Cohler, of counsel), San Francisco, CA, for appellees.

MILTON POLLACK, Senior District Judge:

P.T. Tirtamas Majutama is an Indonesian corporation, which entered into a Letter Agreement on November 29, 1989, with DBL Group, DBL Inc., and Alaska Pacific Paramount, Inc.,1 to engage in negotiations towards Majutama's contemplated purchase of the securities and debt of Paramount Petroleum Corporation, a California oil refinery.2 Pursuant to the Letter Agreement, Majutama...

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