Drexel Burnham Lambert Inc. v. Terex Corp.

Order, Supreme Court, New York County (David B. Saxe, J.) entered December 9, 1991, which, inter alia, granted plaintiff summary judgment on its complaint, dismissed defendant’s affirmative defenses, and dismissed defendant’s counterclaims to the extent of directing that defendant must first obtain relief from the automatic bankruptcy stay before the court would consider the counterclaims, unanimously affirmed, with costs.

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…