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IN RE DIVERSIFIED DEVELOPMENT CORPORATION

No. 14648.

341 F.2d 58 (1965)

In the Matter of DIVERSIFIED DEVELOPMENT CORPORATION, Debtor. DIVERSIFIED DEVELOPMENT CORPORATION, a Corporation, Herman Wilkening and Alice Wilkening, Shareholders Therein, Appellants, v. SECURITY TRUST COMPANY et al., Robert Graff, Burroughs Glass Company, a Corporation, Thomas J. Finan, Inc., a Corporation, William L. Camp, John H. Wolf, Alton Sheet Metal Corporation, a Corporation, J. and A. Springman, Inc., a Corporation, C. B. Neudecker, Inc., a Corporation, Alden K. Weber and Lester A. Weber, Hadley Dean Glass Company, a Corporation, Marco Sales Incorporated, a Corporation, Melcher Schene Hardware and Lumber Company, a Corporation, Orville W. Maguire, Morgan Llewellyn and Tom De Clue, Appellees.

United States Court of Appeals Seventh Circuit.

February 4, 1965.

Attorney(s) appearing for the Case

Emerson Baetz, W. H. Thomas, Alton, Ill., for appellant.

Joseph R. Lowery, East St. Louis, Ill., Donald U. Beimdiek, William H. Armstrong, St. Louis, Mo., Bruce Quackenbush, Alton, Ill., Charles M. Whealon, East St. Louis, Ill., Robert L. Broderick, East St. Louis, Ill., Pope & Driemeyer, East St. Louis, Ill., Armstrong, Teasdale, Roos, Kramer & Vaughan, St. Louis, Mo., of counsel), for Security Trust Co.

Before KNOCH, CASTLE and SWYGERT, Circuit Judges.

KNOCH, Circuit Judge.

This is an appeal from portions of a judgment entered April 15, 1964, which sustained and approved a petition for reorganization under Chapter X of the Bankruptcy Act insofar as it held that Security Trust Company, a corporation, has a provable claim and is entitled to the rights of a petitioning creditor under Chapter X.

The corporate debtor involved is Diversified Development Corporation, an Illinois corporation (sometimes hereinafter...

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