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IN RE INDUSTRIAL SAPPHIRE MFG. CO.

No. 10094.

182 F.2d 589 (1950)

In re INDUSTRIAL SAPPHIRE MFG. CO., Inc.

United States Court of Appeals Third Circuit.

Decided May 18, 1950.

As amended May 25, 1950.

Attorney(s) appearing for the Case

Charles M. Solomon, Philadelphia, Pa., for appellant.

Bertram Bennett, Philadelphia, Pa., for appellee.

Before MARIS, GOODRICH and McLAUGHLIN, Circuit Judges.

GOODRICH, Circuit Judge.

This appeal in bankruptcy is to determine the validity of a chattel mortgage. The question is raised by the mortgagee's petition for leave to institute legal proceedings under the mortgage, which petition is opposed by the trustee. The Referee granted the petition; the District Court confirmed without opinion and the trustee appeals.

The bankrupt, Industrial Sapphire Manufacturing Co., Inc., executed the mortgage in New York on August...

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