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APPEAL OF COPELAND

Nos. 75-1366 and 75-1500.

531 F.2d 1195 (1976)

In the Matter of Lammot duPont Copeland, Jr., Debtor (two cases). Appeal of Lammot duPont COPELAND, Jr. ("Debtor"), Debtor-in-Possession in the above-described Proceedings for an Arrangement (the Proceedings), and the Statutory Creditors' Committee in the Proceedings (the "Creditors' Committee"). Appeal of PENSION BENEFIT FUND, INC.

United States Court of Appeals, Third Circuit.

Decided March 3, 1976.

Attorney(s) appearing for the Case

E. Norman Veasey, Martin I. Lubaroff, Richard G. Elliott, Jr., Michael A. Meehan, Richards, Layton & Finger, Wilmington, Del., for The Debtor Lammot duPont Copeland, Jr.

Howard L. Williams, Eduard F. von Wettberg, III, Morris, James, Hitchens & Williams, Wilmington, Del., for The Statutory Creditors' Committee.

Joseph Donald Craven, F. Alton Tybout, Wilmington, Del., for Pension Benefit Fund, Inc.

Before SEITZ, Chief Judge, and GIB-BONS and ROSENN, Circuit Judges.

OPINION OF THE COURT

SEITZ, Chief Judge.

This is a consolidated appeal from two separate orders of the district court in a Chapter XI bankruptcy proceeding instituted by Lammot duPont Copeland, Jr. (hereinafter "Copeland" or "debtor"). The appeals are united by a common factual basis. In July of 1967, Copeland personally guaranteed payment on a $2,700,000 loan by Pension Benefit Fund, Inc. ("Pension Benefit") to...

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