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NATIONAL DISCOUNT CORPORATION v. TYSON

No. 7434.

247 F.2d 18 (1957)

NATIONAL DISCOUNT CORPORATION, Appellant, v. William B. TYSON, Jr., as Trustee for Appliances, Inc., Bankrupt, Appellee.

United States Court of Appeals Fourth Circuit.

Decided August 1, 1957.

Attorney(s) appearing for the Case

Saunders M. Bridges, Florence, S. C. (Roy A. Powell, Columbia, S. C., and Bridges & Bridges, Florence, S. C., on brief), for appellant.

John M. Scott, Florence, S. C. (Bernard B. Dusenbury, Florence, S. C., on brief), for appellee.

Before PARKER, Chief Judge, and SOBELOFF and HAYNSWORTH, Circuit Judges.

HAYNSWORTH, Circuit Judge.

This is an appeal from an order requiring the mortgagee of chattels to account to the trustee of the bankrupt mortgagor for their value.

The Bankrupt, Appliances, Inc., was a corporation organized in 1953 for the purpose of operating a retail electrical appliance store. Arrangements were made with a finance company, the appellant here, to finance the major portion of its purchases to stock and its retail credit paper.

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