Legal Opinion
In Re Motels of America, Inc.
United States Bankruptcy Court, D. Delaware
Decided August 18, 1992No. 19-10203PublishedCited by 5 opinions
1Opinion of the Court
HELEN S. BALICK, Bankruptcy Judge.
This is the court’s decision on the objections of Motels of America, Inc. and the Official Committee of Unsecured Creditors to Vernon Ellis, Jr.’s proof of claim (No. E-12) for $464,720.00, seeking general unsecured status.
Facts
According to the record before the court, Ellis was an employee of MOA who retired in 1988. On August 1, 1988, the parties entered into an “Option To Purchase And Put Right” agreement which MOA admits was designed to give Ellis an income stream over the next ten-year period. At that time he owned 58,090 shares of MOA common stock.…
2Cases cited2 opinions
- In re the Receivership of International Radiator Co.Court of Chancery of Delaware · 1914
- In Re Reliable Manufacturing Corporation, Debtor. Libco Corporation v. Charles W. Leigh and Ervin F. DusekCourt of Appeals for the Seventh Circuit · 1983
3Cited by5 opinions
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- In Re International Wireless Communications Holdings, Inc.United States Bankruptcy Court, D. Delaware · 2001
- In Re Kaiser Group International, Inc.United States Bankruptcy Court, D. Delaware · 2001
- International Wireless Communications Holdings, Inc. v. International Wireless Communications Holdings, Inc.Court of Appeals for the Third Circuit · 2003
- In Re Qintex Entertainment, Inc., Debtor. Robert Halmi, Sr. v. Qintex Entertainment, Inc.Court of Appeals for the Ninth Circuit · 1993