OTIS & CO. v. INSURANCE BLDG. CORPORATION

No. 3544.

110 F.2d 333 (1940)

OTIS & CO. v. INSURANCE BLDG. CORPORATION et al.

Circuit Court of Appeals, First Circuit.

March 15, 1940.


Attorney(s) appearing for the Case

Henry E. Foley, of Boston, Mass., for appellant.

Joseph P. Rooney, of Boston, Mass. (Chester T. Lane, Samuel H. Levy, W. Crosby Roper, Jr., and Raoul Berger, all of Washington, D. C., and Coleman Silbert, of Boston, Mass., on the brief), for Securities and Exchange Commission, appellee.

Before MAGRUDER, and MAHONEY, Circuit Judges, and PETERS, District Judge.


PETERS, District Judge.

This is an appeal from an order of the District Court for the District of Massachusetts denying to Otis & Co. compensation for services and expenses in the proceeding for the reorganization of the appellee corporation. The court held that Sec. 249 of Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 649, prohibited the granting of any compensation under the facts which appeared, in substance, as follows:

The petition in the proceeding...

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