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CHAPMAN BROS. CO. v. SECURITY-FIRST NAT. BANK

No. 9298.

111 F.2d 86 (1940)

CHAPMAN BROS. CO. v. SECURITY-FIRST NAT. BANK OF LOS ANGELES et al.

Circuit Court of Appeals, Ninth Circuit.

April 10, 1940.

Attorney(s) appearing for the Case

Evans, Pearce & Campbell and Wm. H. Campbell, all of Los Angeles, Cal., for appellant.

Thorpe & Bridges, Roane Thorpe, and Gerald Bridges, all of Los Angeles, Cal., for appellee, Security-First Nat. Bank of Los Angeles.

Before WILBUR, DENMAN, and STEPHENS, Circuit Judges.

WILBUR, Circuit Judge.

On March 1, 1939, the appellant corporation filed a petition seeking to take advantage of chapter X of the Chandler Act, 11 U.S.C.A. § 501 et seq. relating to corporate reorganization. According to the petition of appellant its assets were $3,095,802.65 and its total liabilities $2,305,922.50, the net worth of its property thus amounting to $789,880.15. Of the assets it was alleged that $3,058,350 represented the value of real estate covered...

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