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IN RE NATIONAL DISCOUNT CORPORATION

No. B/1892.

212 F.Supp. 929 (1963)

In the Matter of NATIONAL DISCOUNT CORPORATION, Bankrupt.

United States District Court W. D. South Carolina, Spartanburg Division.

January 25, 1963.

Attorney(s) appearing for the Case

Neville Holcombe, Robt. F. Chapman, T. Sam Means, Jr., Spartanburg, S. C., for R. Emmet Kerr, trustee in bankruptcy for Nat. Discount Corp.

William H. Smith, Gen. Counsel, S. C. Ins. Dept., Columbia, S. C., T. Emmet Walsh, Spartanburg, S. C., J. Monroe Fulmer, Fulmer, Barnes & Berry, Columbia, S. C., for William F. Austin, Chief Ins. Comr. of S. C., as receiver for Nat. Fidelity Ins. Co.

Robert L. Stoddard, Moore & Stoddard, Spartanburg, S. C., for receiver for Title Ins. & Guaranty Co.

Frank A. Lyles, Lyles & Lyles, Spartanburg, S. C., for receiver for Cudd & Coan Underwriters, Inc.

WYCHE, District Judge.

The question of the rank of certain debentures issued by the National Discount Corporation, now in bankruptcy, in relation to its other debts, is before me on the testimony, evidence and the record introduced before the Referee in Bankruptcy.

After a consideration of oral arguments and written briefs submitted by the attorneys for the parties, and the record in the case, I make the following

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