CUMMINGS, Circuit Judge.
Peerless Manufacturing Company ("Bankrupt") was an Illinois corporation engaged in the manufacture and sale of women's sportswear. The directors and stockholders were Mr. and Mrs. Irving Gollub and Mr. and Mrs. Frank S. Tiger. In February 1968, Bankrupt filed a petition for an arrangement under Chapter XI of the Bankruptcy Act. After abandoning that petition and consenting to the entry of a bankruptcy adjudication, it was so adjudicated, and...
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