IN RE PROTHO EXP., INC.

Bankruptcy No. 291-06061.

130 B.R. 517 (1991)

In re PROTHO EXPRESS, INC., Debtor. Kimberly Marie DEAN, Movant, v. PROTHO EXPRESS, INC., Respondent.

United States Bankruptcy Court, M.D. Tennessee.

August 15, 1991.


Attorney(s) appearing for the Case

John Thomas Baird, Memphis, Tenn., David Hill, Baker, Worthington, Crossley, Stansberry & Woolf, Nashville, Tenn., for movant.

Wm. Caldwell Hancock, Nashville, Tenn., for debtor.


MEMORANDUM

KEITH M. LUNDIN, Bankruptcy Judge.

The question presented is whether the directors of the debtor corporation had authority to file a bankruptcy petition, notwithstanding removal of those directors by the pledgee of the corporation's stock at a secret meeting of shareholders. Because the pledgee failed to prove compliance with applicable state corporation law, the board of directors had authority to file the petition. The following constitute findings...

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