COMMERCIAL TRADING CO., INC. v. POTTER SEC. CORP.


26 A.D.2d 761 (1966)

Commercial Trading Company, Inc., Respondent, v. Potter Securities Corporation et al., Defendants, and Phillip J. McNellis, as Trustee in Bankruptcy of Potter Securities Corporation, and Others, Bankrupts, Intervenor-Appellant

Appellate Division of the Supreme Court of the State of New York, Fourth Department.

July 1, 1966


Order unanimously modified in accordance with the Memorandum and as modified affirmed, without costs of this appeal to any party.

Memorandum:

The defendant trustee in this action by way of counterclaim alleges that the plaintiff received payments from the bankrupt Potter while he was insolvent within the meaning of section 271 of the Debtor and Creditor Law, which payments were without a fair consideration as defined by section 272 of the Debtor and Creditor...

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