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CALAWAY v. ADMIRAL CREDIT CORPORATION

Nos. 12466, 12467.

407 F.2d 518 (1969)

Stephen G. CALAWAY, as Trustee in Bankruptcy of Pete Knight Television & Appliance, Inc., Bankrupt, Appellant, v. ADMIRAL CREDIT CORPORATION, Appellee. Stephen G. CALAWAY, as Trustee in Bankruptcy of Pete Knight Television & Appliance, Inc., Bankrupt, Appellant, v. REDISCO, INC., Appellee.

United States Court of Appeals Fourth Circuit.

Decided March 3, 1969.

Attorney(s) appearing for the Case

W. P. Sandridge, Jr., Winston-Salem, N. C. (Womble, Caryle, Sandridge & Rice, Winston-Salem, N. C., on the brief), for appellant.

James B. Rivenbark, Greensboro, N. C. (Egerton, Alspaugh & Rivenbark, Greensboro, N. C., on the brief), for appellees.

Before HAYNSWORTH, Chief Judge, BOREMAN and BUTZNER, Circuit Judges.

BUTZNER, Circuit Judge:

On June 10, 1966, Admiral Credit Corporation and Redisco, Inc., repossessed merchandise delivered to Pete Knight Television & Appliance, Inc., under trust receipts.1 Three days later Knight filed a petition in bankruptcy. The trustee in bankruptcy brought these actions to set aside the repossessions as voidable preferences within the meaning of § 60 of the Bankruptcy Act [11 U.S.C. § 96 (1968)]. The...

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