McCLOSKEY v. DOWNINGTOWN WOOLEN MILLS

No. 3023.

20 F.2d 190 (1927)

McCLOSKEY v. DOWNINGTOWN WOOLEN MILLS, Inc.

District Court, E. D. Pennsylvania.

June 7, 1927.


Attorney(s) appearing for the Case

Isaac A. Pennypacker, of Philadelphia, Pa., for receiver.

Joseph G. Denny, Jr., of Philadelphia, Pa., and Wm. Tregay, of Coatesville, Pa., for Maxwell.

G. Von Phul Jones, of Philadelphia, Pa., for American Bank & Trust Co.

E. W. Young, of West Chester, Pa., for Pollock.


THOMPSON, District Judge.

A creditors' bill was filed, averring that the Downingtown Woolen Mills, Inc., owned assets largely in excess of its liabilities, that it was presently unable to pay its creditors, that it was threatened with numerous suits, that its embarrassed condition was due to lack of sufficient working capital, and that, unless a receiver was appointed, its assets would be sacrificed and its business, which might be profitably carried on to the advantage...

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