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SMITH v. ROBINSON

No. 9500.

343 F.2d 793 (1965)

O. Bruton SMITH, Appellant, v. Robert N. ROBINSON, Trustee in Reorganization of Charlotte Motor Speedway, Inc., Appellee. In the Matter of CHARLOTTE MOTOR SPEEDWAY, INC., Debtor.

United States Court of Appeals Fourth Circuit.

Decided March 4, 1965.

Attorney(s) appearing for the Case

Francis O. Clarkson, Jr., Charlotte, N. C. (Craighill, Rendleman & Clarkson, Charlotte, N. C., on brief), for appellant.

Jack T. Hamilton, Charlotte, N. C. (Robert G. Sanders, Fairley, Hamrick, Hamilton & Monteith, and Sanders & Walker, Charlotte, N. C., on brief), for appellee.

Before SOBELOFF, Chief Judge, and BOREMAN and J. SPENCER BELL, Circuit Judges.

BOREMAN, Circuit Judge:

This appeal is from an order of the District Court in a reorganization proceeding under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq. On November 3, 1961, Charlotte Motor Speedway, Incorporated (hereinafter Speedway), filed a petition for corporate reorganization under Chapter X which was approved by the court on the same day and a Trustee in Reorganization was appointed. Smith, appellant, an officer and director of the corporation...

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