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IN RE WOOL GROWERS CENT. STORAGE CO.

No. 06-60055-RLJ-11.

371 B.R. 768 (2007)

In re WOOL GROWERS CENTRAL STORAGE COMPANY, Debtor.

United States Bankruptcy Court, N.D. Texas, San Angelo Division.

July 19, 2007.

Attorney(s) appearing for the Case

R. Byrn Bass, Jr., R. Byrn Bass, Jr., Attorney at Law, Lubbock, TX, for Debtor.

David R. Langston, Mullin, Hoard & Brown, Lubbock, TX, for Creditor Committee.

MEMORANDUM OPINION

Robert L. JONES, Bankruptcy Judge.

The Court considers whether to approve the First Amended Plan of Reorganization (the "Plan") of Wool Growers Central Storage Company ("Wool Growers") which contains a provision providing that, in return for a contribution of $2,625,000 by three of its directors, any claims by creditors against the directors are released. The Plan is opposed by creditors Jack David Wardlaw, Jesse Lem Wardlaw, Jack...

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