IN RE DREXEL BURNHAM LAMBERT GROUP INC.

Bankruptcy No. 90 B 10421.

146 B.R. 98 (1992)

In re DREXEL BURNHAM LAMBERT GROUP INC., et al., Debtor.

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

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).


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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