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IN RE MORRIS

Bankruptcy Nos. 89-41056, 89-41059, Adv. Nos. 90-0055, 90-0056.

147 B.R. 929 (1992)

In re Richard C. MORRIS, Robert E. Morris, Debtors. Gibson D. KARNES, Trustee, Plaintiff, v. F.C. MORRIS & SONS, INC., Robert E. Morris, Richard C. Morris, W. Herbert Bayley, as Trustee of Richard C. Morris Children's Trust, W. Herbert Bayley, as Trustee of Robert E. Morris Children's Trust, Ivan A. Elliott, Jr., as Trustee of Richard C. Morris Children's Trust, Ivan A. Elliott, Jr., as Trustee of Robert E. Morris Children's Trust, John Hancock Mutual Life Insurance Company, First Bank & Trust Co., Mt. Vernon, Illinois, as Trustee under the provisions of a Trust Agreement known as Trust No. 15451 and Trust No. 15330, Intra Illinois, Inc., Intra, USA, Inc., Charles York, Mike York, Carl Rexing, Jay Morris, Mark Morris, Allen Morris, Robert Morris, Jr., Beth Morris, Ellen Coggshell, Susan Kline, First National Bank of Wayne City, Nattier Fuels, Inc., the Hamilton County Bank of McLeansboro, Wabash Valley Service Co., Farm Air, Inc., Edna Blackwell, Fabick Tractor Company, Unknown Owners and Nonrecord Claimants, Defendants.

United States Bankruptcy Court, S.D. Illinois.

November 24, 1992.

Attorney(s) appearing for the Case

Terry Sharp, Mt. Vernon, IL, for Trustee.

James E. Ford, Benton, IL, for debtors-defendants.

Mark Ballard, Mt. Vernon, IL, John D. Lien and Joan Kubalanza, Chicago, IL, for John Hancock Life Ins. Co.

James E. Dull, Mt. Vernon, IL, for 1st Natl. Bank & Trust of Wayne City, IL.

James Van Winkle, McLeansboro, IL, for Intra Ill., Inc., Mike & Charles York & Intra USA, Inc. and 1st Bk & Trust Co.

Curtis Barnes, Galatia, IL, for W. Herbert Bayley.

Darrell Dunham, Murphysboro, IL, for Morris Children's Trusts.

OPINION

KENNETH J. MEYERS, Bankruptcy Judge.

At issue in this case is whether a dissolved corporation, of which the debtors were shareholders, validly conveyed its real estate following dissolution or whether, as the trustee contends, the property passed to the debtors as owners of the defunct corporation's assets so as to become part of their bankruptcy estates.1 The trustee has filed...

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