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DREXEL BURNHAM LAMBERT INC. v. TEREX CORP.

184 A.D.2d 328 (1992)

Drexel Burnham Lambert Incorporated, Respondent, v. Terex Corporation, Appellant

Appellate Division of the Supreme Court of the State of New York, First Department.

June 16, 1992

Plaintiff, which filed a Chapter 11 reorganization petition in bankruptcy on May 29, 1990, seeks in this action to recover more than $6.1 million pursuant to warrants issued by defendant in July 1989, and its exercise, on March 15, 1990, of its rights thereunder to receive certain defined cash amounts. Defendant seeks to set off this undisputed liability in counterclaims alleging plaintiff's unauthorized, illegal and fraudulent...

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