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IN RE INFOREX, INC.

Bankruptcy Nos. 79-01966-L, 79-01965-L, Adv. No. 81-0805-L.

26 B.R. 515 (1983)

In re INFOREX, INC., Inforex International Sales Corp., Debtors. INFOREX, INC., Paul P. Brountas, and Timothy C. Cronin, Plaintiffs, v. Thomas G. BURRIDGE, Aileen Cassel, Howard J. Crede, Virginia De Andrea, Jacob De Herrera, Corrinne L. Doering, Richard H. Donlon, John C. Eaton, Gerald A. and Margaret J. Garinger, John E. Griffith, Arthur M. Guida, Calvin G. Heisler, Marilyn Jo Hitchens, William S. Jackson, Jr., Lawrence H. Kaiser, Kenneth K. Kerkling, Max A. Krey, W. Arthur Peterson, John B. Ragatz, Benjamin J. Schafer, Donald H. Schurr, Jr., John G. Seberg, Philip Shaiman, Stanley N. Singer, Irvin L. Stumpf, Arthur Thad Smith, Glenn W. Sollie, Donald D. Spencer, Egon T. Weber, Jerry R. and Ruth A. Whalen, and Wendell L. Wood, Defendants.

United States Bankruptcy Court, D. Massachusetts.

January 17, 1983.

Attorney(s) appearing for the Case

John M. McCamish, Jr., San Antonio, Tex., with whom Barry A. Chasnoff and Michael L. Kreager, San Antonio, Tex., were on brief, for plaintiffs; McCamish, Ingram, Martin & Brown, P.C., San Antonio, Tex. and Fletcher, Tilton & Whipple, P.C., Worcester, Mass., of counsel.

Rodney R. Patula, Englewood, Colo., with whom Christopher N. Mammel and Eleanor A. Mentor, Englewood, Colo., were on brief, for defendants; Pryor, Carney & Johnson, P.C., Englewood, Colo., and Warner & Stackpole, Boston, Mass., of counsel.

OPINION

THOMAS W. LAWLESS, Chief Judge.

The issue before the Court is whether a suit for tortious conduct brought by a number of former shareholders of the Debtors, Inforex, Inc., (Inforex) against Inforex's present and/or former officers and directors is barred by the confirmation of Inforex's plan of reorganization wherein all rights of the shareholders were extinguished. The facts are not in dispute, only the conclusions of law to be drawn therefrom....

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