In Re Bruce

OPINION

LARRY L. LESSEN, Chief Judge.

This matter is before the Court on the motion of Ryder/P*I*E Nationwide, Inc. (hereinafter referred to as P*I*E) 1 to vacate the Chapter 13 plan, or in the alternative a portion of the plan, confirmed by the Court on March 11, 1986. The facts are as follows.

Prior to his filing for relief under Chapter 13 of the Bankruptcy Code, the Debtor signed an agreement with P*I*E electing to participate in the Ryder/P*I*E Employee Stock Investment Plan (SIP). The SIP was established as a payroll-based employee stock ownership plan under the Employee Retirement Income…