DONALDSON LUFKIN JENRETTE SUED BY SWISS FIRM
<Associated Metals and Minerals Corp>
said its Swiss subsidiary, <Metall und Rohstoff AG>, sued
<Donaldson Lufkin and Jenrette Inc>, the New York investment
bank, for 65 mln dlrs.
    The amount reflects the unsatisfied portion of a judgment
issued in February by a London court against ACLI Metals
(London) Ltd, a unit of DLJ, the company said.
    A London Commercial court found that a DLJ managing
director and ACLI employees fraudulently misappropriated Metal
und Rohstoff collateral in 1983 to cover deficits in aluminum
trading accounts, it said.
    The court awarded 76 mln dlrs plus costs to Metall und
Rohstoff, which received about 10 mln dlrs from ACLI.
    The new lawsuit alleges that DLJ management misappropriated
collateral and also charges it with breach of trust and abuse
of the legal process.
    In addition, Metall und Rohstoff has filed a petition in
London seeking the compulsory involuntary bankruptcy of ACLI
London. It is expected that a liquidator will be named shortly,
Associated said.
    DLJ is owned by <Equitable Life Assurance Society of the
U.S.>
 Reuter
