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MATTER OF MULTIPONICS INC.

No. 71-218.

436 F.Supp. 1065 (1977)

In the Matter of MULTIPONICS INCORPORATED, Debtor.

United States District Court, E. D. Louisiana.

June 9, 1977.

Attorney(s) appearing for the Case

George A. Kimball, Jr., George W. Pigman, Jr., Peter A. Feringa, Jr., New Orleans, La., Charles Seligson, for Carl Biehl and Machinery Rental, Inc.

Raymond Salassi, New Orleans, La., Sherwin Rodin, New York City, for Citibank.

Peter J. Butler, New Orleans, La., for trustee.

IN PROCEEDINGS FOR THE REORGANIZATION OF A CORPORATION

ALVIN B. RUBIN, District Judge:

This phase of a complicated corporate reorganization case involves the ranking of debts claimed to be due by the corporation to some of its former directors and corporations controlled by them. For reasons set forth below, the debts are subordinated to the claims of other creditors.

I.

Multiponics, Inc.1 ("Multiponics") was...

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