In re DREXEL BURNHAM LAMBERT GROUP INC., et al., Debtor.
United States Bankruptcy Court, S.D. New York.https://leagle.com/images/logo.png
October 13, 1992.
October 13, 1992.
Attorney(s) appearing for the Case
P. Gruenberger, Weil, Gotshal & Manges, New York City, for Drexel Burnham Lambert Group, Inc., et al. (Drexel).
A. Tramont, Jorden, Schulte & Burchette, Miami, Fla., for American Bankers Ins. Co. of Florida, American Bankers Financial Services, Inc. and American Bankers Ins. Group, Inc. (American Bankers).
S. Santoro, Christy & Viener, New York City, for Prudential Securities, Inc. (Prudential).
United States Bankruptcy Court, S.D. New York.
MEMORANDUM OF DECISION ON THE APPLICATION OF § 502(e)(1)(b) TO THE PARTIAL SETTLEMENT OF AN UNDERLYING THIRD PARTY ACTION
FRANCIS G. CONRAD, Bankruptcy Judge.
The issue presented to us1 is whether a joint tortfeasor eliminates the contingent nature of its claim for common law contribution under Bankruptcy Code (Code) § 502(e)(1)(B) when it settles the underlying third party dispute...
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