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SPEARE v. CONSOLIDATED ASSETS CORPORATION

No. 430, Docket 30482.

367 F.2d 208 (1966)

Adele Speare and George Speare, individually and as co-partners doing business as the Agora Prime Rib Restaurant and the co-partnership of the Agora Prime Rib Restaurant. Adele SPEARE and George Speare, Debtors in Possession, Appellants, CONSOLIDATED ASSETS CORPORATION, Appellee-Appellant.

United States Court of Appeals Second Circuit.

Decided October 4, 1966.

Attorney(s) appearing for the Case

Arthur E. Dienst, New York City, for appellants.

Sydney Basil Levy, New York City (Aranow, Brodsky, Bohlinger, Einhorn & Dann, New York City, on the brief), for appellee-appellant.

Before LUMBARD, Chief Judge, and MOORE and FRIENDLY, Circuit Judges.

LUMBARD, Chief Judge:

This is an appeal from a decision of the Southern District Court, Irving Ben Cooper, J., by Adele Speare, as one of the debtors in possession in an arrangement proceeding, exercising the power of a trustee in bankruptcy to void two mortgage liens held by Consolidated Assets Corporation. The parties agree, as the referee and the district court found, that the mortgage liens in question were tainted with usury. The issues before

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