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APPLICATION OF BABY WORLD COMPANY

No. 63 B 454.

236 F.Supp. 283 (1964)

Application of BABY WORLD COMPANY, Inc. and West Virginia Plastics, Inc., Debtor, For relief under Chapter XI, Section 322 of the Bankruptcy Act.

United States District Court E. D. New York.

May 12, 1964.

Attorney(s) appearing for the Case

Samuel B. Brouner, New York City (Murray H. Paloger, New York City, of counsel), for petitioner on review.

Elias Mann, New York City (Herman A. Bursky, and Levin & Weintraub, New York City, of counsel), for debtor, respondent on review.

DOOLING, District Judge.

Alan Daniels, the petitioner on review, owned half the stock of the Debtor in 1961 and he then contracted to sell it to the Debtor for $250,000. $150,000 of the price was payable in thirty-five equal monthly installments commencing August 2, 1962. Under the sales contract, if the Debtor defaulted, Daniels could choose either (a) to get back his stock and regain control of the Debtor, retaining half the money he had received for it and returning...

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