IN RE COLLEGE CHEMISTS

No. 217.

62 F.2d 1058 (1933)

In re COLLEGE CHEMISTS, Inc. DILLER v. IRVING TRUST CO.

Circuit Court of Appeals, Second Circuit.

February 6, 1933.


Attorney(s) appearing for the Case

Joseph G. M. Browne, of Brooklyn, for appellant.

Krause, Hirsch & Levin, of New York City (George J. Hirsch, of New York City, on the brief), for appellee.

Before L. HAND, SWAN, and CHASE, Circuit Judges.


PER CURIAM.

Diller, the sole shareholder of the bankrupt, sold all the shares to one Weiner, who gave her a chattel mortgage on all its assets to secure his payments of the purchase price, which was much greater than their value. The trustee attacks the transaction as beyond the corporate powers and as a fraudulent conveyance. It is not necessary for us to say anything upon the first point, because the mortgage was clearly within section 274 of the Debtor and Creditor...

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