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IN RE GENERAL CARPET CORPORATION

No. 20544.

38 F.Supp. 200 (1941)

In re GENERAL CARPET CORPORATION.

District Court, E. D. Pennsylvania.

April 4, 1941.

Attorney(s) appearing for the Case

James E. Gallagher, Jr., and Stradley, Ronon & Stevens, all of Philadelphia, Pa., for petitioner.

Rodney T. Bonsall and Evans, Bayard & Frick, all of Philadelphia, Pa., for trustee.

Henry W. Braude, of Philadelphia, Pa., referee in bankruptcy.

KALODNER, District Judge.

During the gaudy 20's and the dazed 30's many of those who had dealings with bankrupt estates regarded them as "happy hunting grounds".

The situation became so shocking that an aroused Congress enacted the Chandler Act in 1938. In plain and unmistakable terms the Chandler Act in Sections 241, 242 and 243, 11 U.S.C.A. §§ 641, 642, 643, erected safeguards against exploitation of bankrupt estates by the prospectors for gold...

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