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CARY OIL CO., INC. v. MG REFINING AND MARKETING

No. 99 CIV. 1725 LAK.

90 F.Supp.2d 401 (2000)

CARY OIL CO., INC., et al., Plaintiffs, v. MG REFINING AND MARKETING, INC., et al., Defendants.

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

March 30, 2000.

Attorney(s) appearing for the Case

William H. Bode, Bode & Beckman, LLP, Washington, DC, Richard G. Tashjian, Tashjian & Padian, New York City, for Plaintiffs.

Michael Blechman, Robert B. Bernstein, Michael Pomerantz, Kaye, Scholer, Fierman, Hays & Handler, LLP, New York City, for Metallgesellschaft Defendants.

William Spiegelberger, Jeffrey Barist, Milbank, Tweed, Hadley & McCloy LLP, New York City, for Deutsche Bank Defendants.

MEMORANDUM OPINION

KAPLAN, District Judge.

This case comes in the aftermath of the near collapse of the German metals and engineering conglomerate, Metallgesellschaft AG ("MGAG"), in late 1993. Reportedly faced with crippling trading losses from over-exposure in the oil futures market, MGAG nearly was forced into bankruptcy before its creditors, including Deutsche Bank AG, stepped in with an emergency...

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