Judge Says IRS Is Delaying Drexel Settlement:...
From Times Staff and Wire Reports
Judge Says IRS Is Delaying Drexel Settlement: The Internal Revenue Service is attempting “to cripple” the bankruptcy settlement of Drexel Burnham Lambert Group Inc. by failing to quickly provide information about a disputed $5.2-billion claim for back taxes, Judge Milton Pollack said in a hearing at U.S. District Court in Manhattan. The judge ordered the IRS to provide details about Drexel’s alleged tax violations by April 17. He also maintained that the IRS claim was inflated. The IRS, however, said it could prove it is owed the $5.2 billion if the judge gives the federal agency enough time to review Drexel’s records.
