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IN RE SUPERIOR CUTTER CO.

No. 59819.

122 F.Supp. 585 (1954)

In re SUPERIOR CUTTER CO., Inc.

United States District Court S. D. California, Central Division.

June 23, 1954.

Attorney(s) appearing for the Case

Craig, Weller & Laugharn, Los Angeles, Cal., for trustee.

William J. Tiernan, Los Angeles, Cal., for petitioner on review.

Hugh L. Dickson, Los Angeles, Cal., referee in bankruptcy.

BYRNE, District Judge.

Gene May was a director and vice president of the bankrupt, Superior Cutter Co., Inc., a corporation. Being indebted to May for loans advanced, the corporation on September 14, 1953, gave him a promissory note in the amount of $6900 secured by an assignment of accounts receivable. The notice of assignment of the accounts receivable was recorded in the Los Angeles County Recorder's office.

On November 16, 1953, the corporation gave May...

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