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IN RE UNITED STATES REALTY & IMPROVEMENT CO.

No. 178.

108 F.2d 794 (1940)

In re UNITED STATES REALTY & IMPROVEMENT CO. SECURITIES AND EXCHANGE COMMISSION v. UNITED STATES REALTY & IMPROVEMENT CO. UNITED STATES REALTY & IMPROVEMENT CO. v. SECURITIES AND EXCHANGE COMMISSION.

Circuit Court of Appeals, Second Circuit.

January 15, 1940.

Attorney(s) appearing for the Case

White & Case, of New York City (Joseph M. Hartfield, Joseph A. Bennett, Henry M. Marx, and Charles W. Dibbell, all of New York City, of counsel), for debtor.

Chester T. Lane, Gen. Counsel, and Martin Riger, Samuel H. Levy, and Raoul Berger, all of Washington, D. C., George Zolotar, of New York City, Homer Kripke and Irving S. Rogers, both of Washington, D. C. (J. Anthony Panuch, of New York City, of counsel), for Securities and Exchange Commission.

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

SWAN, Circuit Judge.

This is a proceeding for an arrangement under chapter XI of the Bankruptcy Act, 11 U.S.C.A. § 701 et seq. It was commenced by petition filed by United States Realty and Improvement Company, hereafter called the debtor. The debtor is a New Jersey corporation having its principal place of business within the city of New York; its business consists in the management and ownership of investments in real estate. It has substantial assets and liabilities...

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