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SUSQUEHANNA CHEMICAL CORP. v. PRODUCERS BANK & TR. CO.

No. 9824.

174 F.2d 783 (1949)

SUSQUEHANNA CHEMICAL CORPORATION v. PRODUCERS BANK & TRUST CO., BRADFORD, PA.

United States Court of Appeals Third Circuit.

Decided April 27, 1949.

Attorney(s) appearing for the Case

Frank B. Quinn, Erie, Pa. (James D. Wolfe, Bradford, Pa., on the brief), for appellant.

Henry A. MacDonald, Erie, Pa. (Gifford, Graham, MacDonald & Illig, Erie, Pa., on the brief), for appellee.

Before MARIS, GOODRICH, and KALODNER, Circuit Judges.

GOODRICH, Circuit Judge.

This case is a contest between the trustees in reorganization for the Susquehanna Chemical Corporation and the bank with which the corporation had, on July 30, 1948, checking accounts. The debtor owed the bank an amount greater than its checking accounts upon a demand note containing the usual Pennsylvania confession of judgment clause. Petition for reorganization under Chapter X, 11 U.S.C.A. § 501

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