IN RE WESTEC CORPORATION

No. 28597.

434 F.2d 195 (1970)

In the Matter of WESTEC CORPORATION, Debtor. Garland H. WALKER, Claimant-Appellant, v. Orville S. CARPENTER, Trustee for Westec Corporation, Debtor-Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied December 3, 1970.


Attorney(s) appearing for the Case

William B. Dazey, Houston, Tex., for claimant-appellant; Garland H. Walker, pro se.

James W. Dilworth, Raymond A. Cook, Fred Knapp, Jr., Houston, Tex., for debtor-appellee; Andrews, Kurth, Campbell & Jones, Houston, Tex., of counsel.

Before WISDOM, AINSWORTH, and CLARK, Circuit Judges.


WISDOM, Circuit Judge.

This case tangentially relates to the collapse of Westec Corporation, a Texas corporation now in proceedings for reorganization under Chapter X of the Bankruptcy Act. The facts out of which it arises constitute a prescription for corporate collapse: loose stock transactions, a corporate acquisition made to placate and benefit a subsidiary's principal officer and, allegedly, double payment for an officer's activities.

Garland Walker asserts...

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