DREXEL GROUP v. VIGILANT INS.


157 Misc.2d 198 (1993)

595 N.Y.S.2d 999

Drexel Burnham Lambert Group, Inc., et al., Plaintiffs, v. Vigilant Insurance Company et al., Defendants.

Supreme Court, New York County.

January 22, 1993


Attorney(s) appearing for the Case

Rosenman & Colin, New York City, for plaintiffs. Santora & Allen, New York City, for Continental Insurance Company, defendant. Sedgwick, Detert, Moran & Arnold, New York City, for Vigilant Insurance Company and others, defendants. D'Amato & Lynch, New York City, for National Union Insurance Company of Pittsburgh, Pa., and another, defendants. Bigham, Englar, Jones & Houston, New York City, for Stephen J. Burnhope and others, defendants. Hart & Hume, New York City, for Aetna Casualty & Surety Company and another, defendants. Gottesman, Wolgel, Secunda, Malamy & Flynn, P. C., New York City, for Home Insurance Company, defendant. Wilson, Elser, Moskowitz, Edelman & Dicker, New York City, for Gulf Insurance Company, defendant. Winston & Strawn, New York City, for Insurance Company of North America, defendant.


EDWARD J. GREENFIELD, J.

The smoke has not yet cleared from the debacle of shattered hopes, lives and dreams caused by the notorious activities of Michael Milken and Dennis Levine, among others, which rocked the financial world at the end of the 1980's.

Milken and Levine have served time for their convictions of felonies and have been fined substantial sums. Their company, the investment brokerage house...

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