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COHN v. LICO MANUFACTURING CO. INC.

No. 12, Docket 28224.

323 F.2d 871 (1963)

Milton L. COHN, Trustee for Ira S. Pace, Appellant, v. LICO MANUFACTURING CO., Inc., Debtor, and John L. Schwab, its Trustee in Reorganization, Appellees.

United States Court of Appeals Second Circuit.

Decided October 29, 1963.

Attorney(s) appearing for the Case

Milton L. Cohn, trustee of a voting trust for the benefit of Ira S. Pace, appeals from an order, entered in reorganization proceedings under Chapter X of the Bankruptcy Act, subordinating certain obligations held by appellant to the claims of all other creditors and allowing them only to the extent of the unpaid balance of the amount actually advanced, plus interest at the agreed rate.

I. J. Cohn, Bridgeport, Conn., for appellant.

Edward J. McCarthy, Bridgeport, Conn. (Paul C. Jamieson, Bridgeport, Conn., on the brief), for appellees.

Before CLARK, MOORE and KAUFMAN, Circuit Judges.

PER CURIAM.

The order is affirmed on the findings and opinion of Judge Anderson, D.C. Conn., 201 F.Supp. 899. The order as we read it subordinates to the claims of all other creditors not only the unsecured portion of appellant's claims, but also that portion which was secured by indentures and a chattel mortgage; thus interpreted, it is appropriate to the issues...

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