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IN RE MANUFACTURERS' CREDIT CORPORATION

No. B. 1085-67.

278 F.Supp. 384 (1968)

In the Matter of MANUFACTURERS' CREDIT CORPORATION et al., Debtors.

United States District Court D. New Jersey.

January 10, 1968.

Attorney(s) appearing for the Case

Richard V. Bandler, Marvin E. Jacob, New York City, for S. E. C.

Furst, Furst, Feldman & Benenson, by Jay Benenson, Newark, N. J., for debtors.

Okin, Pressler & Sherby, by Harold Okin, Ridgefield, N. J., Leinwand, Maron & Hendler, by Isadore Leinwand, New York City (N. Y. Bar), for Creditors Committee.

Riker, Danzig, Scherer & Brown, by Charles Danzig, Newark, N. J., Milbank, Tweed, Hadley & McCoy, by Samuel Ballin, New York City (N. Y. Bar), for Chase Manhattan Bank.

Ravin & Ravin, by Morris Ravin, Jack L. Cohen, Newark, N. J., for receiver.

Winne & Banta, by Howard Corbitt, Hackensack, N. J., for Peoples Trust Co.

Stickel, Kain & Stickel, by Harold Kain, Newark, N. J., for American Oil Co.

Charles Seligson, New York City (N. Y. Bar), for Sidney Engelhardt.

Cole, Berman & Garth, by Leonard Garth, Paterson, N. J., receiver for Theodore Richmond.

OPINION

WORTENDYKE, District Judge.

This case came before me upon return of an Order to Show Cause allowed to the Securities and Exchange Commission (S.E.C.), directing the parties to the captioned Chapter XI proceeding to show cause why leave should not be granted to the S.E.C. to intervene therein, and why the proceeding should not be dismissed unless the petitions of the debtors under Chapter XI be amended, or a creditors'

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