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BRIEFLY

A group of investors is seeking to buy Deak & Co.

July 16, 1985

The group, acting through a Singapore lawyer, bid $52 million to acquire Deak when it emerges from reorganization under Chapter 11 of the U.S. Bankruptcy Code. The main prize sought by the anonymous buyers appears to be the Zurich, Switzerland-based Foreign Commerce Bank and its hard-to-get Swiss banking permit. But the takeover also would apparently give the buyers control of Deak-Perera U.S., this country's largest and oldest non-bank currency and bullion dealer. The deal was disclosed in papers filed with U.S. Bankruptcy Judge Burton K. Lifland, who is overseeing Deak's reorganization.

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