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HILLCREST LUMBER CO. v. TERMINAL FACTORS, INC.

Nos. 293, 294, Docket Nos. 25683, 25684.

281 F.2d 323 (1960)

HILLCREST LUMBER CO., Inc., and Doran Lumber Corp., Petitioners-Appellees, v. TERMINAL FACTORS, INC., Respondent-Appellant.

United States Court of Appeals Second Circuit.

Decided August 2, 1960.

Attorney(s) appearing for the Case

I. Louis Kottler, Brooklyn, N. Y., for appellant.

Max Ornstein, New York City, for appellees.

Before LUMBARD, Chief Judge, and CLARK and FRIENDLY, Circuit Judges.

CLARK, Circuit Judge.

The petitioners-appellees, Hillcrest Lumber Co., Inc. and Doran Lumber Corp., are debtors in arrangement proceedings under Bankruptcy Act, c. XI, § 301 et seq., 11 U.S.C. § 701 et seq., initiated in December 1952. At that time respondent, Terminal Factors, Inc., claimed a lien on certain lumber owned by the debtors and held under warehouse receipt. In July and September 1953, upon petitions by the respective debtors, the Referee in...

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