McGIRL v. STERLING NAT. BANK & TRUST CO.


102 F.Supp. 1011 (1952)

McGIRL et al. v. STERLING NAT. BANK & TRUST CO. OF NEW YORK.

United States District Court S. D. New York.

February 29, 1952.


Attorney(s) appearing for the Case

Harper & Matthews, New York City (Harold Harper, New York City, Samuel M. Coombs, Jr., Jersey City, N. J., Arthur R. Gaetjens, New York City, of counsel), for plaintiffs.

Glass & Lynch, New York City, (Leslie Kirsch, New York City, of counsel), for defendant.


WEINFELD, District Judge.

This is a motion for summary judgment in an action commenced by a Chapter X trustee of Solar Manufacturing Corporation, Debtor, to recover the payment of $575,000 to the defendant upon the ground that such payment constituted an unlawful preference and is voidable by the trustee under Section 70 sub. e(1) of the Bankruptcy Act, 11 U.S.C.A. 110 sub. e(1).

The debtor is a New York corporation and also transacted business in New Jersey...

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