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IN RE H.K. PORTER CO.

Bankruptcy No. 91-468PGH.

156 B.R. 16 (1993)

In re H.K. PORTER COMPANY, Debtor.

United States Bankruptcy Court, W.D. Pennsylvania.

July 7, 1993.

Attorney(s) appearing for the Case

Philip E. Beard, George T. Snyder, Philip E. Beard, II, Frederick J. Francis, Pittsburgh, PA, for debtor.

Douglas A. Campbell, David P. Braun, Pittsburgh, PA, for the Official Committee of Unsecured Creditors.

Gene Locks, Jonathan W. Miller, Philadelphia, PA and Charles F. Vihon, Chicago, IL, for various individual objectors.

Mark D. Plevin, Washington, DC, for Insurance Co. of North America and Central Nat. Ins. Co. of Omaha.

Samuel C. Batsell, Washington, DC, for Pension Benefit Guaranty Corp.

OPINION

WARREN W. BENTZ, Bankruptcy Judge.

Introduction

H.K. Porter Company ("Debtor" or "Porter") filed its voluntary Petition under Chapter 11 of the Bankruptcy Code on February 15, 1991 (the "Filing Date"). Porter ceased its business operations prior to the bankruptcy filing. The avowed purpose of the bankruptcy was to stay the flood of asbestos-related personal injury and property damage lawsuits against Porter to enable Porter to liquidate...

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