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REID v. KING

No. 5519.

157 F.2d 868 (1946)

REID v. KING et al. In re PRICE.

Circuit Court of Appeals, Fourth Circuit.

November 11, 1946.

Attorney(s) appearing for the Case

Spotswood W. Robinson, III, and Oliver W. Hill, both of Richmond, Va. (Hill, Martin & Robinson, of Richmond, Va., on the brief), for appellant.

Ralph T. Catterall, of Richmond, Va. (James Mullen and Williams, Mullen & Hazelgrove, all of Richmond, Va., on the brief), for appellee Trustee in Bankruptcy.

Robert G. Cabell, of Richmond, Va. (Tucker, Mays, Cabell & Moore, all of Richmond, Va., on the brief), for appellee Peter King.

James T. Carter, of Richmond, Va., for appellee Southern Aid Soc. of Virginia, Inc.

Before PARKER, SOPER, and DOBIE, Circuit Judges.

SOPER, Circuit Judge.

The highest bidder at a sale of shares of stock by the trustee in bankruptcy appealed from an order of the court whereby confirmation of the sale was refused and the sale of the stock to another purchaser who subsequently offered a substantially higher price was ratified and confirmed. There is involved the question whether the court had the right to exercise its discretion in the premises notwithstanding the fact that the price originally offered...

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