IN RE SKYSWEEPER, INC.

No. 61 B 4412.

200 F.Supp. 788 (1962)

In The Matter of SKYSWEEPER, INC., an Illinois corporation, Debtor.

United States District Court N. D. Illinois, E. D.

January 4, 1962.


Attorney(s) appearing for the Case

Michael Gesas and Leonard Gesas, Walter C. Wellman, Chicago, Ill., for debtor.

A. L. Schapiro, Schapiro & Fuchs, Chicago, Ill., for objecting creditor, Essex Wire Corp.

Robert B. Chatz, Chatz & Chatz, Samuel Berke, Chicago, Ill., for receiver.

Louis I. Kessler, Chicago, Ill., for Creditors' Committee.


ROBSON, District Judge.

This action was instituted on April 20, 1961, when the debtor herein, Skysweeper, Inc., filed its voluntary petition under Chapter XI of the Bankruptcy Act (11 U.S.C.A. § 701 et seq.). A proposed arrangement was subsequently filed whereby the general unsecured creditors could elect to take 25% of the amount of their claims in cash, in full satisfaction thereof or 100% of the amount of the claims payable (1) 10% in cash upon confirmation...

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