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PERRY v. CERTIFICATE HOLDERS OF THRIFT SAVINGS

No. 18251.

320 F.2d 584 (1963)

Wallace PERRY, Trustee in Bankruptcy of the Estate of Thrift Savings, an Arizona corporation, Bankrupt, Appellant, v. CERTIFICATE HOLDERS OF THRIFT SAVINGS, an Arizona corporation, Appellees.

United States Court of Appeals Ninth Circuit.

July 3, 1963.

Attorney(s) appearing for the Case

Aldrich, Mirkin & Murphy, Melvin J. Mirkin, and Charles R. Johnston, Phoenix, Ariz., for appellant.

Robert G. Mooreman, Phoenix, Ariz., for appellee.

Before HAMLIN, JERTBERG and DUNIWAY, Circuit Judges.

DUNIWAY, Circuit Judge.

In this hard case, we are asked to make what we consider to be bad law. We feel compelled to decline to do so. The problem arises from the bankruptcy of a corporation called Thrift Savings. It turned out that the name was a gross misdescription of the actual functioning of the corporation. It is an Arizona corporation, having an authorized capital stock of $60,000,000 divided into 6,000,000 voting shares of the par value of $10 each. Its purposes...

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