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CLINTON TRUST CO. v. JOHN H. ELLIOTT LEATHER CO.

No. 50.

132 F.2d 299 (1942)

CLINTON TRUST CO. et al. v. JOHN H. ELLIOTT LEATHER CO. et al. In re MICHEL, MAKSIK & FELDMAN, Inc.

Circuit Court of Appeals, Second Circuit.

December 9, 1942.

Attorney(s) appearing for the Case

Milton Kunen, of New York City (Kaye, Scholer, Fierman & Hays and Phillip F. Seigenfeld, all of New York City, on the brief), for appellant Creditors' Committee.

Samuel Michelman, of New York City (Olvany, Eisner & Donnelly, of New York City, on the brief), for appellant 155 Madison Avenue Realty Corporation.

R. Lewis Townsend, Asst. U. S. Atty., of New York City (Mathias F. Correa, U. S. Atty., of New York City, on the brief), for appellant Higgins.

Edward K. Hanlon, of New York City (Beekman, Bogue, Stephens & Black, Baldwin, Todd & Young, Parker, Chapin & Flattau, Samuel M. Lane, Milton Weiss, and Sydney W. Cable, all of New York City, on the brief), for appellees.

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

CLARK, Circuit Judge.

The question which the parties have raised on appeal before us is as to the status of debts incurred by a corporation after confirmation of a plan for its reorganization in proceedings under former § 77B of the Bankruptcy Act, 11 U.S.C.A. § 207, but before the debtor's total default in carrying out the plan some four and a half years later. A bankruptcy referee sitting as special master ruled that, in view of the court's retention of...

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