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MATTER OF PRATT AND WHITNEY CO., INC.

Bankruptcy No. 2-91-00467, Adv. No. 2-91-0304.

143 B.R. 19 (1992)

In the Matter of The PRATT AND WHITNEY COMPANY, INC., Debtor. John J. O'NEIL, Jr., Trustee, Plaintiff v. Mark S. SHIPMAN, Defendant.

United States Bankruptcy Court, D. Connecticut.

July 21, 1992.

Attorney(s) appearing for the Case

Gerald A. Del Piano, Francis, O'Neil, & Del Piano, Hartford, Conn., for plaintiff.

Jeffrey A. Blueweiss and David J. Robertson, Bai, Pollock & Dunnigan, Bridgeport, Conn., for defendant.

MEMORANDUM OF DECISION

ROBERT L. KRECHEVSKY, Chief Judge.

I.

ISSUE

One day prior to filing a bankruptcy petition, a corporate debtor forwarded $100,000 to an escrow agent for the purpose of paying lawyers thereafter retained by the debtor's officers and directors if third parties sued them because of their status as the debtor's officers and directors. At issue in this proceeding is the question of entitlement to the present balance of...

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