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MATTER OF COLUMBIA GAS SYSTEM, INC.

Bankruptcy No. 91-803. Adv. No. 93-44.

164 B.R. 883 (1994)

In the Matter of The COLUMBIA GAS SYSTEM, INC. and Columbia Gas Transmission Corporation, Debtor. The FIRST NATIONAL BANK OF BOSTON, Trustee, Plaintiff, v. The COLUMBIA GAS SYSTEM, INC., Defendant.

United States Bankruptcy Court, D. Delaware.

March 24, 1994.

Attorney(s) appearing for the Case

Michael B. Joseph, Ferry, Joseph & Fink, P.A., Wilmington, DE (Peter W. Benner, Ira H. Goldman, Richard I. Cohen, Christine E. Rua, Shipman & Goodwin, Hartford, CT, of counsel), for plaintiff.

Richard H. May, James L. Patton, Jr., Timothy J. Snyder, Young, Conaway, Stargatt & Taylor, Wilmington, DE (Stroock & Stroock & Lavan, and Cravath, Swaine & Moore, New York City, of counsel), for defendant.

HELEN S. BALICK, Bankruptcy Judge.

MEMORANDUM OPINION AND ORDER

The First National Bank of Boston (FNB) in its complaint seeks declaratory and injunctive relief to remedy alleged conduct of Columbia Gas System, Inc. (CG). FNB is the indenture trustee for security holders under an indenture whereby funds were borrowed to provide for an employee stock ownership plan (ESOP) within CG's Employees' Thrift Plan of Columbia Gas System.

FNB's amended...

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