IN RE WORLDWIDE DIRECT, INC.

Nos. 99-108 (MFW) to 99-127(MFW).

268 B.R. 69 (2001)

In re WORLDWIDE DIRECT, INC., et al., Debtors.

United States Bankruptcy Court, D. Delaware.

October 4, 2001.


Attorney(s) appearing for the Case

Bruce Bennett, James O. Johnston, Joshua D. Morse, Hennigan, Bennett & Dorman, Los Angeles, CA, Robert S. Brady, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE, for debtors and debtors in possession.

Joseph J. Wielebinski, Joe E. Marshall, Mina Brees, Munsch Hardt Kopf & Harr, Dallas, TX, Joanne B. Wills, Steven Kortanek, Klehr Harrison Harvey Branzburg & Ellers LLP, Wilmington, DE, for Official Committee of Unsecured Creditors.

John K. Hyvnar, Southborough, MA, for claimant David Collard.


OPINION1

MARY F. WALRATH, Bankruptcy Judge.

This matter is before the Court on the Debtors' objection to the claim of David Collard ("the Claimant"). The Debtors assert that the claim must be subordinated pursuant to section 510(b) because it is based on the breach of an agreement to issue stock to the Claimant. The Claimant asserts that his claim is not based on the contract to issue stock, but is instead based...

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