SCHAEFER v. SMITH

Nos. 72-1276, 72-1277.

469 F.2d 1256 (1972)

In the Matter of Robert Jerome SCHAFER and Ramona Joan Schaefer, formerly engaged in business as Action Realty, Bankrupts-Appellants, v. Howard L. SMITH and A. S. Blauw, Creditors-Appellees.

United States Court of Appeals, Tenth Circuit.

December 11, 1972.


Attorney(s) appearing for the Case

Thomas Smiley and O. Louis Puccini, Jr., Albuquerque, N. M., on brief for bankrupts-appellants.

Brian W. Copple, Roswell, N. M., on brief for creditors-appellees.

Before LEWIS, Chief Judge, and PICKETT and McWILLIAMS, Circuit Judges.


PICKETT, Circuit Judge.

Schaefer, the bankrupt, appeals from a judgment of the United States District Court for the District of New Mexico affirming a bankruptcy referee's finding that certain contingent contractual obligations for the repurchase of corporate stock were not provable and therefore not dischargeable in bankruptcy. We conclude that the contractual obligations are provable, allowable, and therefore dischargeable.

In January of 1969 Schaefer sold...

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