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IN RE DREXEL BURNHAM LAMBERT GROUP, INC.

Nos. 90 Civ. 6954 (MP), 92 Civ. 5507 (MP). Bankruptcy No. 90 B 10421 (FGC).

146 B.R. 84 (1992)

In re the DREXEL BURNHAM LAMBERT GROUP, INC., et al., Debtors. James F. CHILDS, Jr., as Executor of the Estate of Norman Davidson, Jr., Deceased, Appellant, v. The DREXEL BURNHAM LAMBERT GROUP, et al., Appellees.

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

October 13, 1992.

Attorney(s) appearing for the Case

Luskin & Stern (Michael Luskin, of counsel), New York City, for appellant.

Tenzer, Greenblatt, Fallon & Kaplan (Joel M. Leifer, of counsel), New York City, for appellees.

MILTON POLLACK, Senior District Judge:

Davidson was a customer of Drexel, who maintained a non-discretionary bond brokerage account there from September 1987 through approximately June 1989. In June 1989, when his account executive, Edward Buliavac moved from Drexel to Bear Stearns & Co., Davidson followed and transferred his Drexel account to Bear Stearns.

In the following year, on February 13, 1990, Drexel filed a petition under Chapter 11 for Bankruptcy...

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