IN RE PALOMA ESTATES

No. 152.

126 F.2d 72 (1942)

In re PALOMA ESTATES, Inc.

Circuit Court of Appeals, Second Circuit.

February 21, 1942.


Attorney(s) appearing for the Case

Shaine & Weinrib, of New York City (Maurice L. Shaine and Edward J. Mallin, both of New York City, of counsel), for debtor-appellant.

Eugene J. Morris, of New York City (Allan Rogow, of New York City, of counsel), for Trustees of Series-C, creditor-appellees.

J. Anthony Panuch, of New York City (Chester T. Lane, Gen. Counsel, of Washington, D. C., and George Zolotar and Mortimer Weinbach, both of New York City, of counsel), for Securities and Exchange Commission.

Before L. HAND, CHASE, and CLARK, Circuit Judges.


CHASE, Circuit Judge.

The debtor which owns, subject to a first and to a second mortgage, an apartment house and lot at 200 West 86th Street in the City of New York, filed its petition for reorganization in the District Court for the Southern District of New York under Chapter X of the Bankruptcy Act, 11 U. S.C.A. § 501 et seq. The judge, holding that the petition was not filed in good faith within § 146(4) of Chapter X and also that the debtor had not complied...

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