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IN RE MOTELS OF AMERICA, INC.

Bankruptcy Nos. 90-1008, 91-0330 and 91-0434.

146 B.R. 542 (1992)

In re MOTELS OF AMERICA, INC., a Delaware corporation, et al.

United States Bankruptcy Court, D. Delaware.

August 18, 1992.

Attorney(s) appearing for the Case

Joanne B. Wills, Wilmington, Del., for debtor.

David B. Stratton, Wilmington, Del., for official committee of unsecured creditors.

Erin K. Brignola, Wilmington, Del., for Vernon Ellis, Jr.

HELEN S. BALICK, Bankruptcy Judge.

This is the court's decision on the objections of Motels of America, Inc. and the Official Committee of Unsecured Creditors to Vernon Ellis, Jr.'s proof of claim (No. E-12) for $464,720.00, seeking general unsecured status.

Facts

According to the record before the court, Ellis was an employee of MOA who retired in 1988. On August 1, 1988, the parties entered into an "Option To Purchase And Put Right" agreement...

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