Philco Finance Corporation v. Pearson

MEMORANDUM OPINION

KEADY, Chief Judge.

This case is before the court on the complaint of Philco Finance Corporation (Philco), a Delaware corporation, against John Pearson and wife, Rosemary Pearson, Mississippi citizens, George J. Heard, a Tennessee citizen, and other Mississippi defendants, 1 to set aside as a conveyance in fraud of creditors the transfer by Pearson to Heard of 25,000 shares of stock in Classic Cleaners, Inc. (Classic), and for certain incidental relief. Jacob C. Pongetti, Trustee of Pearson’s estate in bankruptcy, No. EBK 7076-K, on the docket of this court, has been allowed…