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BARTLE v. MARKSON BROS. INC.

Nos. 135, 136, Dockets 27802, 27803.

314 F.2d 303 (1963)

Newton D. BARTLE, Attorney in Fact for Creditors' Committee, et al., Petitioners-Appellants, v. MARKSON BROS. INC., Debtor, and New York Home Furnishing Corp., Debtor, Respondents-Appellees.

United States Court of Appeals Second Circuit.

Decided March 5, 1963.

Attorney(s) appearing for the Case

Laurence Sovik, of Smith & Sovik, Syracuse, N. Y., for petitioners-appellants.

William J. Mackay, Syracuse, N. Y., for Asher Markson and others, Holders of Debenture Notes.

Paul J. Shea, of Costello, Cooney & Fearon, Syracuse, N. Y., for respondents-appellees.

Samuel A. Arutt, New York City, for Creditors' Committee.

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

CLARK, Circuit Judge.

This appeal questions district court judgments affirming orders of a bankruptcy referee which had confirmed plans of arrangement under Chapter XI of the Bankruptcy Act, 11 U.S.C. §§ 701-799, of the two debtor corporations, Markson Bros. Inc. and New York Home Furnishing Corp. Appellants, the objecting creditors, attack the confirmations on two principal grounds: (1) the arrangements were not "for the best interests of the creditors...

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