IN RE DRIVE-IN DEVELOPMENT CORP.

No. 15779.

371 F.2d 215 (1966)

In the Matter of DRIVE-IN DEVELOPMENT CORP., Debtor. NATIONAL BOULEVARD BANK OF CHICAGO, Claimant-Appellant, v. DRIVE-IN DEVELOPMENT CORP., Debtor, Park Livingston, Receiver, the Creditors' Committee of Drive-In Development Corp., City National Bank of Clearwater, Sarasota Bank & Trust Company, Ervite Corporation, Creditors-Objectors-Appellees.

United States Court of Appeals Seventh Circuit.

Rehearings Denied January 18, 1967.


Attorney(s) appearing for the Case

Justin A. Stanley, A. Daniel Feldman, Michael I. Miller, of Isham, Lincoln & Beale, Chicago, Ill., for appellant.

G. Kent Yowell, Charles Aaron, Michael Weissman, Chicago, Ill., Yowell & Cessna, Chicago, Ill., of counsel, for appellees.

Before KNOCH, KILEY and SWYGERT, Circuit Judges.


SWYGERT, Circuit Judge.

The principal question in this appeal relates to the circumstances which may bind a corporation to a guaranty of the obligations of a related corporation when it is contended that the corporate officer who executed the guaranty had no authority to do so. The facts giving rise to the question underlie a claim filed by the National Boulevard Bank of Chicago in an arrangement proceeding under chapter XI of the Bankruptcy Act, 11 U.S.C. §...

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