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PENDER v. CHATHAM PHENIX NAT. BANK & TRUST CO.

No. 360.

58 F.2d 968 (1932)

PENDER v. CHATHAM PHENIX NAT. BANK & TRUST CO.

Circuit Court of Appeals, Second Circuit.

May 23, 1932.

Attorney(s) appearing for the Case

Benjamin Siegel, of New York City (Edward I. Kaplan, of New York City, of counsel), for appellant.

Kaye, McDavitt & Scholer, of New York City (James S. Hays and Milton Kunen, both of New York City, of counsel), for appellee.

Before MANTON, SWAN, and AUGUSTUS N. HAND, Circuit Judges.

SWAN, Circuit Judge.

The trustee in bankruptcy of Morris Sugarman brought suit to set aside a payment of $3,500 made by the bankrupt to the defendant bank within four months of the bankruptcy. Upon the evidence adduced, all the elements of a preference voidable under section 60b of the Bankruptcy Act (11 USCA § 96) were found to exist except the last, namely, the requirement that the creditor "shall then have reasonable cause to believe" that the transfer would...

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