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IN RE PENNYRICH INTERNATIONAL, INC. OF DALLAS

No. 72-1928.

473 F.2d 417 (1973)

In the Matter of PENNYRICH INTERNATIONAL, INC. OF DALLAS, Bankrupt. LANE INDUSTRIES, INC., d/b/a Century Studios, Appellant, v. Harold C. ABRAMSON, Trustee, Appellee.

United States Court of Appeals, Fifth Circuit.

Rehearing Denied March 13, 1973.

Attorney(s) appearing for the Case

Robin P. Hartmann, Dallas, Tex., for appellant.

G. Dennis Sullivan, Dallas, Tex., for trustee.

Before GOLDBERG, AINSWORTH and INGRAHAM, Circuit Judges.

GOLDBERG, Circuit Judge:

This is an appeal from an order reducing a claim made by a secured creditor against a bankrupt estate. The standard procedures for valuing the security were not followed, and the principal question before us is whether a referee in bankruptcy may ever assign a date not specifically authorized by statute as the time for valuing the security. Finding that the referee's action in creating such an exception to the "standard" valuation procedure...

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