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IN RE McLEAN INDUSTRIES, INC.

Bankruptcy Nos. 86 B 12238 through 86 B 12241 (HCB), Adv. No. 87-5987A.

96 B.R. 440 (1989)

In re McLEAN INDUSTRIES, INC., et al., Debtors. McLEAN INDUSTRIES, INC., f/k/a McLean Securities, Inc., Plaintiff, v. MEDICAL LABORATORY AUTOMATION, INC., Defendant.

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

February 14, 1989.

Attorney(s) appearing for the Case

Milbank, Tweed, Hadley & McCloy by Henry Condell, New York City, for debtors.

Kronish, Lieb, Weiner & Hellman by Lawrence J. Kaiser, David Rosenzweig, New York City, for Official Debentureholders Committee.

Day, Berry & Howard by James J. Tancredi, Hartford, Conn., for defendant.

DECISION

HOWARD C. BUSCHMAN, III, Bankruptcy Judge.

This adversary proceeding, commenced by the Debtor, McLean Industries, Inc. ("McLean" or "Debtor"), seeks a judgment of specific performance compelling Medical Laboratory Automation, Inc. ("MLA") to issue shares of stock pursuant to an option held by McLean. Three principal issues of bankruptcy administration are raised: whether an entity that is neither a creditor nor a shareholder may refuse to perform...

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