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IN RE PEARSON BROS. CO., INC.

Bankruptcy No. 183-01968, Adv. No. 86-8390.

98 B.R. 427 (1989)

In re The PEARSON BROS. COMPANY, INC., Debtor. The PEARSON BROS. COMPANY, INC., Plaintiff, v. Leland PEARSON, Defendant.

United States Bankruptcy Court, C.D. Illinois.

April 5, 1989.

Attorney(s) appearing for the Case

Ronald R. Peterson, Jenner & Block, Chicago, Ill., for plaintiff.

D.J. McRae, Don J. McRae & Associates, Kewanee, Ill., for defendant.

Randall Moon, Asst. U.S. Trustee, Peoria, Ill.

OPINION AND ORDER

WILLIAM V. ALTENBERGER, Bankruptcy Judge.

The debtor is engaged in the business of manufacturing farm equipment. The defendant founded the debtor and prior to its reorganization was its only shareholder, its chief executive officer, and one of its directors. Also prior to its reorganization, the defendant's brother, Vernon Pearson (Vernon), had retired from the debtor and was working part time in exchange for expenses, and LaVerne Charlet...

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