Drexel Creditors Committee Files Motion: The creditors...
From Times Staff and Wire Reports
Drexel Creditors Committee Files Motion: The creditors committee of the Drexel Burnham Lambert Group Inc. filed a motion in federal bankruptcy court asking that Drexel be prohibited from liquidating its assets without court approval and review by the committee. The creditors had requested that a temporary restraining order be issued to stop the liquidation of assets. The committee’s request for a permanent injunction will be heard on July 19. Drexel filed for Chapter 11 bankruptcy protection on Feb. 13.
