Creditors And Shareholders Consider Legal Action In Wake Of Babcock Prebon Management Buyout

BROKERS

Stung by the hasty private sale of beleaguered Babcock Prebon's major money broking subsidiaries to a management buyout group early last week (FX Week, September 13), disgruntled shareholders and creditors of the London-based holding company, now in receivership, are considering legal action. Lincoln's Inn solicitors Stewart & Co., which, prompted by a former Babcock employee, has been advertising for parties to a possible suit, has been "inundated with phone calls from people affected

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