IN RE PRAIRIE COAL CO.

No. 8114.

40 F.Supp. 894 (1941)

In re PRAIRIE COAL CO.

District Court, E. D. Illinois.

September 23, 1941.


Attorney(s) appearing for the Case

Joseph H. Goldenhersh, of East St. Louis, Ill., for Industrial Corporation.

Wilbur E. Krebs, of Belleville, Ill., for trustee.

P. K. Johnson, of Belleville, Ill., for debtor.


WHAM, District Judge.

The courts do not ordinarily look with favor upon the practice of withholding approval of sale from the highest bidder at a public sale of bankruptcy assets where the sale was well attended, the price bid not unreasonably low and the sale in all respects fairly advertised and conducted. Particularly is this true where only a slightly higher price is subsequently offered for the assets by one who had opportunity to bid at the sale. This, in effect...

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