IN RE COMMERCIAL OPERATING CORPORATION

No. 368.

77 F.2d 285 (1935)

In re COMMERCIAL OPERATING CORPORATION.

Circuit Court of Appeals, Second Circuit.

May 6, 1935.


Attorney(s) appearing for the Case

Milbank, Tweed, Hope & Webb, of New York City (A. Donald MacKinnon and Arthur John Keeffe, both of New York City, of counsel), for appellant.

Paskus, Gordon & Hyman, of New York City (Arthur B. Hyman, Joseph C. Slaughter, and Charles H. Lieb, all of New York City, of counsel), for appellee.

Rabenold & Scribner, of New York City (Charles E. Scribner, of New York City, of counsel), for Palm Beach Co.

Simpson Thacher & Bartlett, of New York City (Whitney North Seymour and Frederick B. Lee, both of New York City, of counsel), for Financial Corporation.

Before MANTON, SWAN, and CHASE, Circuit Judges.


PER CURIAM.

The order appealed from confirmed a special master's report which recommended the dismissal of appellant's specifications of objections and approved an offer of composition. July 25, 1933, the bankrupt transferred all its assets to Bonwit Teller, Inc., for 7,490 shares of the latter's no par value preferred stock and 7,490 shares of $5 par value common stock. Bonwit Teller, Inc., assumed the bankrupt's liabilities, except for $749,000 of One-Year Renewable...

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