IN RE PRUDENCE CO.

No. 358.

79 F.2d 77 (1935)

In re PRUDENCE CO., Inc. (EGBERT, Superintendent of Banks, et al., Appellants).

Circuit Court of Appeals, Second Circuit.

July 22, 1935.


Attorney(s) appearing for the Case

James T. Heenehan, of New York City (Gerald Donovan and D. Basil O'Connor, both of New York City, of counsel), for appellant Superintendent of Banks.

Weinstein & Levinson, of New York City (Frank Weinstein and Samuel J. Levinson, both of New York City, of counsel), for appellants creditors.

Miller, Boston & Owen, of New York City (Harold H. Corbin and Edward J. Bennett, both of New York City, of counsel), for appellee debtor.

Kaufman, Weitzner & Celler, of New York City, and Thomas Cradock Hughes, of Brooklyn, N. Y. (Emil Weitzner and Samuel Kaufman, both of New York City, Thomas Cradock Hughes, of Brooklyn, N. Y., and Isadore Polier, of New York City, of counsel), for appellees trustees.

Edward Endelman, of New York City, for appellees petitioning creditors.

Archibald Palmer, of New York City, and Jacob A. Freedman, of Brooklyn, N. Y. (Archibald Palmer, Sydney Basil Levy, and Harry D. Glicksman, all of New York City, on the brief), for appellees intervening creditors.

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


SWAN, Circuit Judge.

In September, 1934, the superintendent of banks of the state of New York, pursuant to section 57 of the New York Banking Law (Consol. Laws, c. 2), took possession of the property and business of the Prudence Company, Inc., hereafter referred to as the debtor. Shortly thereafter three creditors of the debtor filed a petition for reorganization of the debtor under section 77B of the Bankruptcy Act (11 USCA § 207). The superintendent of banks...

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