METROPOLITAN HOLDING CO. v. WEADOCK

Nos. 8226, 8227.

113 F.2d 207 (1940)

METROPOLITAN HOLDING CO. et al. v. WEADOCK et al.

Circuit Court of Appeals, Sixth Circuit.

June 27, 1940.


Attorney(s) appearing for the Case

Jason L. Honigman and George E. Brand, both of Detroit, Mich. (Milton J. Miller, of Detroit, Mich., on the brief), for appellants Metropolitan Holding Co. and others.

Paul Weadock, of Detroit, Mich., in pro. per.

Joseph J. Marshall, of Detroit, Mich., for appellee Paul Weadock.

Chester T. Lane, Gen. Counsel, and Martin Riger, both of Washington, D. C., Louis S. Peirce, of Cleveland, Ohio, and Wm. L. Cary, of Washington, D. C., for appellee Securities and Exchange Commission.

Before HICKS, SIMONS, and ARANT, Circuit Judges.


HICKS, Circuit Judge.

On March 25, 1937, Metropolitan Holding Company, a Michigan corporation (herein called the debtor), filed a voluntary petition for reorganization under 77B of the Bankruptcy Act, as amended, 11 U. S.C.A. § 207. Its sole asset was a two-story commercial building in Detroit. The building had five stores on the ground floor and a ballroom above. It was constructed by the debtor in 1929 with $83,600 of its own funds, all of its capital, and...

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