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BANK OF AMERICA NAT. TRUST & SAV. ASS'N v. ERICKSON

No. 9587.

117 F.2d 796 (1941)

BANK OF AMERICA NAT. TRUST & SAV. ASS'N v. ERICKSON.

Circuit Court of Appeals, Ninth Circuit.

February 14, 1941.

Attorney(s) appearing for the Case

Louis Ferrari, of San Francisco, Cal., and Edmund Nelson and G. L. Berrey, both of Los Angeles, Cal., for appellant.

Joseph J. Rifkind, of Los Angeles, Cal., for appellee.

Before DENMAN, MATHEWS, and HEALY, Circuit Judges.

HEALY, Circuit Judge.

The appeal is from an order in bankruptcy subordinating claims presented by appellant to those of all other creditors of the bankrupt.

The bankrupt corporation was engaged in the business of drilling for petroleum. McComb and Hickerson were two of its incorporators, the third being Hitt. Of a total of some 297,000 shares outstanding McComb owned 72,800 shares, Hickerson 51,666 shares individually or as joint tenant with his wife, and...

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