SMALL v. WILLIAMS

No. 8740.

313 F.2d 39 (1963)

J. H. W. SMALL, Trustee in Bankruptcy, acting for Morse-Parker Motor Supply, Inc., et al., and all other creditors of Armstrong Freight Lines, Inc., Bankrupt, Appellant, v. Samuel U. WILLIAMS, claimant, Appellee.

United States Court of Appeals Fourth Circuit.

Decided January 9, 1963.


Attorney(s) appearing for the Case

William C. Worthington, Norfolk, Va., and J. Herbert W. Small, Elizabeth City, N. C. (C. B. Small, Elizabeth City, N. C., and William N. Stovall, Suffolk, Va., on brief), for appellant.

Dewey W. Wells and J. Henry LeRoy, Elizabeth City, N. C. (LeRoy, Wells & Shaw, Elizabeth City, N. C., on brief), for appellee.

Before HAYNSWORTH and BOREMAN, Circuit Judges, and BUTZNER, District Judge.


HAYNSWORTH, Circuit Judge.

The principal question arises out of the allowance by the bankruptcy court of the secured claim of the President and dominant stockholder of the Bankrupt. Upon various grounds, it is contended upon behalf of the Trustee that the claim should be deferred to the claims of all general creditors. We think the claim was properly allowed as a secured claim, but we conclude that the officer-stockholder received a certain preferential payment.<...

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