No. 18028.

315 F.2d 422 (1963)

J. H. PINGREE and J. N. Landeen, Trustees for Continental Casualty Company, Continental Casualty Company, Appellants, Irving SULMEYER, Trustee, Appellee.

United States Court of Appeals Ninth Circuit.

March 23, 1963.

Attorney(s) appearing for the Case

Anderson, McPharlin & Conners, and George C. Montgomery, Los Angeles, Cal., for appellants.

Buchalter, Nemer, Fields & Savitch, and Norman E. Stevens, Los Angeles, Cal., for appellee.

Before BARNES and JERTBERG, Circuit Judges, and PENCE, District Judge.

BARNES, Circuit Judge.

This is an appeal from a district court approval on a review of a referee's order in bankruptcy proceedings, holding that the assignments made by the bankrupt to the appellants herein, as security for the payment of certain sums, were invalid as to creditors, and that said transfers should be set aside for the benefit of the estate.

Both the referee and the district court held that the assignments came within the provisions of California...

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