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IN RE G. E. C. SECURITIES, INC.

No. 400, Docket 28687.

331 F.2d 655 (1964)

In the Matter of G. E. C. SECURITIES, INC., Bankrupt. DRESNER, GOMBERG & CO., Inc., Martin Frank, As Attorney and Proxy for Richard Gray & Co., Inc., and as Secretary of the Creditors Committee, Appellants, v. James B. KILSHEIMER III, Trustee of G. E. C. Securities, Inc., Bankrupt, Appellee.

United States Court of Appeals Second Circuit.

Decided May 12, 1964.

Attorney(s) appearing for the Case

Rosen & Rosen, New York City, for appellants.

Donovan, Leisure, Newton & Irvine, New York City, for trustee. Francis A. Brick, Jr., Richard N. Winfield and Louis C. Lustenberger, Jr., New York City, of counsel.

Before SWAN, MOORE and SMITH, Circuit Judges.

SWAN, Circuit Judge:

On April 26, 1963 G. E. C. Securities, Inc. (hereafter referred to as GECS or the bankrupt) filed a petition for reorganization under Chapter X of the Bankruptcy Act. Chief Judge Ryan appointed Kilsheimer reorganization trustee. Reorganization proving to be impossible GECS was adjudged bankrupt on July 8, 1963, and Kilsheimer was appointed an interim trustee pending election of a trustee in the bankruptcy proceedings.1

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