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Secured Transactions Keyed to Lopucki
In re Green
Citation:115 B.R. 1001 (Bankr. W.D. Mo. 1990)
Debtors filed their Chapter 7 bankruptcy petition. Wal-Mart established the Wal-Mart Stores, Inc. Profit Sharing Plan and the Wal-Mart Stores, Inc. Trust. As of January, 1989, there were 124,780 participants in Wal-Mart Profit Sharing Plan and Trust. The Wal-Mart Profit Sharing Plan and Trust is intended to be a profit sharing stock bonus plan, investing primarily in Wal-Mart stock to enable Wal-Mart employees to share in the equity ownership of Wal-Mart. The Plan in entirely funded by contributions from Wal-Mart. Defendant United Savings and Loan Association is a Missouri state savings and loan association. During 1988, the Greens delivered to United Savings for valuable consideration their promissory notes. The debtors currently owe United Savings $44,776.50 on the promissory notes.
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