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MODEL DAIRY CO. v. FOLTIS-FISCHER

No. 49.

67 F.2d 704 (1933)

MODEL DAIRY CO., Inc., v. FOLTIS-FISCHER, Inc. GRACEL REALTIES, Inc., v. IRVING TRUST CO.

Circuit Court of Appeals, Second Circuit.

Rehearing Denied December 4, 1933.

Attorney(s) appearing for the Case

Arnold Lichtig and Herbert A. Mossler, both of New York City, for appellant.

McDermott & Turner, of New York City (W. Irving Taylor and Charles J. McDermott, both of New York City, of counsel), for appellee.

Coudert Bros., of New York City (Thomas K. Finletter and Milton I. Newman, both of New York City, of counsel), for Reorganization Committee.

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

L. HAND, Circuit Judge.

A simple creditor of the defendant, Foltis-Fischer Incorporated, filed a bill in equity, alleging its immediate inability to pay its debts, the likelihood that its assets would be wasted by a scramble of its creditors, and the necessity that the court should sequester them for the protection of all; it asked for the appointment of a receiver, who should take them over, and, if necessary, distribute them. The defendant consented, and the Irving...

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