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IN RE JOHNS-MANVILLE CORP.

Bankruptcy Nos. 82 B 11656 — 82 B 11676, Adv. No. 85-6657A.

66 B.R. 517 (1986)

In re JOHNS-MANVILLE CORPORATION, et al., Debtors. MANVILLE CORPORATION, Plaintiff, v. The EQUITY SECURITY HOLDERS COMMITTEE, et al., Defendants.

United States Bankruptcy Court, S.D. New York.

October 28, 1986.

Attorney(s) appearing for the Case

Levin & Weintraub & Crames, (Herbert S. Edelman and Andrew Kress, New York City, of counsel), Davis, Polk & Wardwell, (Lowell Gordon Harriss and Laureen Bedell, New York City, of counsel), for debtors.

Milbank, Tweed, Hadley & McCloy, (John J. Jerome and John Gellene, New York City, of counsel), for Creditors Committee.

Fried, Frank, Harris, Shriver & Jacobson, (Matthew Gluck, New York City, of counsel), for Leon Silverman, Legal Representative.

Caplin & Drysdale, Chartered, (Elihu Inselbuch, New York City, of counsel), for Asbestos Health Committee.

Hahn & Hessen, (George Hahn, Steven J. Mandelsberg and Thomas D. Gettler, New York City, of counsel), for Equity Sec. Holders Committee.

Kronish, Lieb, Weiner & Hellman, (Laurence J. Kaiser and Karen Klein, New York City, of counsel), for Certain Holders of Common Stock.

BURTON R. LIFLAND, Bankruptcy Judge.

I Background:

A. The Posture of the Instant Proceeding

The instant adversary proceeding is before this court pursuant to the remand of the Second Circuit. In re Johns-Manville, 801 F.2d 60 (2d Cir.1986). On August 19, 1985 Leon B. Dubin, a Manville common stockholder and a member of the Equity Security Holders Committee ("Equity...

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