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MATTER OF TTS, INC.

Civ. A. No. 91-222-RRM, Adv. No. 89-90.

158 B.R. 583 (1993)

In the Matter of TTS, INC., Debtor. TTS, INC., Appellant, v. CITIBANK, N.A. and Jarvis J. Slade, Appellees.

United States District Court, D. Delaware.

March 16, 1993.

Attorney(s) appearing for the Case

Thomas Ambro, Richards, Layton & Finger, Wilmington, DE, and Stephen W. Armstrong, Montgomery, McCracken, Walker & Rhoads, Philadelphia, PA, of counsel, for appellant.

Peter J. Walsh, Bayard, Handelman & Murdoch, P.A., Wilmington, DE, for appellees.

MEMORANDUM OPINION

McKELVIE, District Judge.

In this appeal from the Bankruptcy Court, the predominant issue is whether funds which the debtor, TTS, Inc., had placed in escrow for the benefit of Jarvis Slade, a former employee, are property of the debtor's estate under § 541 of the Bankruptcy Code. The Bankruptcy Court granted summary judgment for Slade, holding that the escrow funds were not property of the debtor's estate and that the escrow agreement...

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