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MATTER OF PHOENIX STEEL CORP.

Bankruptcy No. 87-147, Adv. No. 87-52.

105 B.R. 250 (1989)

In the Matter of PHOENIX STEEL CORPORATION, Debtor. PHOENIX STEEL CORPORATION, Plaintiff, v. PHILLIPS PETROLEUM COMPANY, Defendant-Counterclaimant v. PHOENIX STEEL CORPORATION, and Francis J. Norris, Counterclaim Defendants.

United States Bankruptcy Court, D. Delaware.

July 21, 1989.

Attorney(s) appearing for the Case

Paul P. Welsh, Vicki A. Hagel, Morris, Nichols, Arsht & Tunnell, Wilmington, Del., for Phillips Petroleum Co.

Warren T. Pratt, Drinker Biddle & Reath, Philadelphia, Pa., for Phoenix Steel Corp.

HELEN S. BALICK, Bankruptcy Judge.

Phoenix Steel Corporation filed this adversary proceeding in reaction to a suit filed in the Superior Court of Delaware by Phillips Petroleum Company against Francis J. Norris, a former officer of Phoenix, for $215,387.02. Phillips had earlier filed a proof of claim for the same amount claiming priority status in Phoenix' second Chapter 11 case.

Phoenix asks the court to find that Norris is not liable to Phillips and enjoin...

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