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INTERNATIONAL TELEPHONE AND TEL. CORP. v. HOLTON

No. 7417.

247 F.2d 178 (1957)

INTERNATIONAL TELEPHONE AND TELEGRAPH CORPORATION, Appellant, v. Frank P. HOLTON, Jr., Trustee in Bankruptcy of Thomasville Furniture Corporation, Bankrupt, Appellee.

United States Court of Appeals Fourth Circuit.

Decided July 11, 1957.

Attorney(s) appearing for the Case

W. P. Sandridge, Winston Salem, N. C. (Womble, Carlyle, Sandridge & Rice, Winston Salem, N. C., and C. Douglas Webb, New York City, on the brief), for appellant.

Sim A. DeLapp, Lexington, N. C. (Hiram H. Ward and Wade H. Phillips, Lexington, N. C., on the brief), for appellee.

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

PARKER, Chief Judge.

This is an appeal in a bankruptcy case from an order subordinating the claims of the International Telephone & Telegraph Corporation, hereinafter referred to as I. T. & T., to the claims of general creditors of the bankrupt, Thomasville Furniture Corporation. The facts are set forth in detail in the report of the Referee in Bankruptcy approved by the District Judge. Those material to an understanding of the controversy may be stated briefly...

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