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MCORP MAKES ANNOUNCEMENT

 DALLAS, Oct. 15 /PRNewswire/ -- MCorp announced today that the Fifth Circuit Court of Appeals had issued a stay this afternoon regarding the joint Chapter 11 plans of reorganization for MCorp and its two subsidiaries, MCorp Financial, Inc., and MCorp Management. Consummation of the plans is stayed by this order pending an emergency hearing of the appeal of confirmation that had been filed by certain creditors. The appeal is expected to be heard the week of Jan. 3, 1994.
 The plans had been confirmed on Oct. 1, 1993 by order of the United States District Court for the Southern District of Texas, which was sitting as a Bankruptcy Court. Prior to issuance of the stay, consummation of the plans had been scheduled for Oct. 18, 1993. The plans have been proposed by MCorp and its subsidiaries, certain senior bondholders and the Unsecured Creditors Committee for the debtors. The company believes that the appeal ultimately will be denied, thus clearing the way for consummation of the plans.
 -0- 10/15/93
 /CONTACT: Dwain D. Howard of MCorp, 214-939-5800/


CO: MCorp ST: Texas IN: FIN SU:

TM -- NY094 -- 3010 10/15/93 19:27 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
Words:192
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