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STANDARD ELECTRONICS CORPORATION v. KENNEALLY

No. 17617.

336 F.2d 394 (1964)

STANDARD ELECTRONICS CORPORATION, a corporation, Appellant, v. Edward R. KENNEALLY, Trustee of the Estate of General Magnetics, Inc., a corporation, Bankrupt, Appellee.

United States Court of Appeals Eighth Circuit.

September 8, 1964.

Attorney(s) appearing for the Case

Joseph Mast, St. Paul, Minn., made argument for appellant and filed brief.

M. L. Culhane, of Culhane & Culhane, Minneapolis, Minn., made argument for appellee and filed brief with James E. Culhane, of Culhane & Culhane, Minneapolis, Minn.

Before VAN OOSTERHOUT, BLACKMUN and MEHAFFY, Circuit Judges.

MEHAFFY, Circuit Judge.

Appellant, Standard Electronics Corporation, alleged secured claims upon two $25,000.00 chattel mortgages, a factor's lien on inventory, and a $15,000.00 pledge agreement as the basis of a $47,750.00 claim against the bankrupt estate of General Magnetics, Inc. for monies advanced it as operating capital during solvency. Edward R. Kenneally, trustee and appellee herein, filed objections to both the validity and secured ranking of appellant's...

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