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MATTER OF REXENE PRODUCTS CO.

Bankruptcy Nos. 91-1057, 91-1058, Motion No. 92-2.

141 B.R. 574 (1992)

In the Matter of REXENE PRODUCTS COMPANY, Rexene Corporation, Debtors. Leonard N. IZZARELLI and Donald J. Schelfhout, on Behalf of Themselves and All Other 1986 Participants in the El Paso Products Company Stock Bonus Plan, Movants, v. REXENE PRODUCTS COMPANY, Rexene Corporation, Debtors.

United States Bankruptcy Court, D. Delaware.

April 10, 1992.

Attorney(s) appearing for the Case

Judith A. Reigel, Bradley W. Hoover, Houston, Tex., David B. Stratton, Wilmington, Del., for movants.

W. Ted Minick, Benjamin C. Wilson, Houston, Tex., David E. Massengill, Mark Thompson, Jay S. Handlin, New York City, James L. Patton, Jr., Laura Davis Jones, Wilmington, Del., for debtors.

MEMORANDUM OPINION AND ORDER

HELEN S. BALICK, Bankruptcy Judge.

Leonard N. Izzarelli and Donald J. Schelfhout, individually and as class representatives, seek relief from stay to prosecute a class action against Rexene Products Company and Rexene Corporation. For the reasons that follow, the motion is GRANTED.

I. Facts

The lawsuit stems from the allocation of a company stock contribution to...

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