IN RE ARCTIC ENTERPRISES, INC.

Bankruptcy Nos. 3-81-00280 to 3-81-00283, 3-81-00286, 3-81-00287, 3-81-00354, 3-81-00284, 3-81-00285 and 3-81-00288.

35 B.R. 978 (1983)

In re ARCTIC ENTERPRISES, INC. (now Minstar, Inc.), Debtor. In re ARCTIC INDUSTRIES, INC., Debtor. In re SCORPION INDUSTRIES, INC., Debtor. In re THE GET AWAY, INC., Debtor. In re ARCTIC RECREATIONAL PRODUCTS, INC., Debtor. In re ARCTIC SPORTS PRODUCTS, LTD., Debtor. In re ARCTIC INTERNATIONAL SALES CORPORATION, Debtor. In re ARCTIC MARINE, INC., Debtor. In re ARCTIC MARINE PRODUCTS, INC., Debtor. In re ARCTIC LUND, INC., Debtors.

United States Bankruptcy Court, D. Minnesota.

December 29, 1983.


Attorney(s) appearing for the Case

Melvin I. Orenstein, Minneapolis, Minn., and Donald C. Swenson, Thief River Falls, Minn., for debtors.

Stephen H. Cohen and Howard A. Patrick, Minneapolis, Minn., for Manufacturers Hanover Trust Co. ("MHTC").

Richard D. Holper, St. Paul, Minn., for First Bank of St. Paul.

James L. Baillie, Minneapolis, Minn., for Committee of Equity Sec. Holders supporting the debtors' motion.


JOHN J. CONNELLY, Bankruptcy Judge.

This matter came before the Court on November 29, 1983 and December 8, 1983 on the debtors' motion for an order interpreting and clarifying certain provisions of the plan of reorganization (the "Plan") which was confirmed December 4, 1981. The sole question is whether the "antidilution" provision relating to Class B stock owned by the lenders terminated on repayment of the debt.

Now, based upon the file of the case, memoranda...

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