DBL Liquidating Trust v. P.T. Tirtamas Majutama (In Re Drexel Burnham Lambert Group, Inc.)
District Court, S.D. New York
1Opinion of the Court
MILTON POLLACK, Senior District Judge:
P.T. Tirtamas Majutama is an Indonesian corporation, which entered into a Letter Agreement on November 29, 1989, with DBL Group, DBL Inc., and Alaska Pacific Paramount, Inc., 1 to engage in negotiations towards Majutama’s contemplated purchase of the securities and debt of Paramount Petroleum Corporation, a California oil refinery. 2 Pursuant to the Letter Agreement, Majutama made on November 30, 1989, a $2 million payment to DBL Group “as a deposit toward the purchase price of the Debt” and was “in consideration for DBL Group’s foregoing other…
2Cases cited19 opinions
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- Fed. Sec. L. Rep. P 95,614 the Exchange National Bank of Chicago v. Touche Ross & Co.Court of Appeals for the Second Circuit · 1976
- Cullen v. MargiottaCourt of Appeals for the Second Circuit · 1987
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