Legal Opinion
Florida Department of Insurance v. Drexel Burnham Lambert Group Inc. (In Re Drexel Burnham Lambert Group, Inc.)
District Court, S.D. New York
Decided January 4, 1993No. 90 B 10421 (FGC), 92 Civ. 7932 (MP) and 90 Civ. 6954 (MP)PublishedCited by 16 opinions
1Opinion of the Court
MILTON POLLACK, Senior District Judge:
GSL was a Florida insurance company which, during a period beginning in January 1984 and ending sometime before August 1991 — when GSL was declared insolvent and placed into receivership — , marketed and sold above-market yielding annuities and single premium whole life insurance policies through highly commissioned agents and brokers. GSL supported its high costs and above market yields by investing a very large portion of its acquired premiums in junk bonds purchased from, or through, Drexel.
On February 13, 1990, Drexel filed a voluntary petition for…
2Cases cited18 opinions
- Lampf, Pleva, Lipkind, Prupis & Petigrow v. GilbertsonSupreme Court of the United States · 1991
- Federal Deposit Insurance Corporation, As Receiver v. O'melveny & MeyersCourt of Appeals for the Ninth Circuit · 1992
- Iit, An International Investment Trust v. Bernard CornfeldCourt of Appeals for the Second Circuit · 1980
- In Re South Atlantic Financial Corp., Etc., Debtors. Biscayne 21 Condominium Association, Inc. v. South Atlantic Financial Corp., Etc.Court of Appeals for the Eleventh Circuit · 1985
- Gary D. Hanson, Sandra Kay Hanson v. First Bank of South Dakota, N.A.Court of Appeals for the First Circuit · 1987
13 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Greyhound Lines, Inc. v. Rogers (In Re Eagle Bus Mfg., Inc.)Court of Appeals for the Fifth Circuit · 1995
- In Re Drexel Burnham Lambert Group Inc.United States Bankruptcy Court, S.D. New York · 1993
- In Re Keene Corp.United States Bankruptcy Court, S.D. New York · 1995
- In Re Alexander's Inc.United States Bankruptcy Court, S.D. New York · 1995
- Houbigant, Inc. v. ACB Mercantile, Inc. (In Re Houbigant, Inc.)United States Bankruptcy Court, S.D. New York · 1995
11 more not listed; retrieve them via the Exa API.