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MATTER OF GULFCO INVESTMENT CORPORATION

No. 74-1727.

520 F.2d 741 (1975)

In the Matter of GULFCO INVESTMENT CORPORATION, and its wholly owned subsidiary, Family Loan, Inc., of Springfield, Missouri, et al., Debtors. P.M.G. CORPORATION, Appellant, v. Dan HOGAN, Trustee, Appellee.

United States Court of Appeals, Tenth Circuit.

Decided August 13, 1975.

Attorney(s) appearing for the Case

Collier H. Pate, Eagleton, Nicholson & Pate, Oklahoma City, Okl., for appellant, P.M.G. Corp.

James P. Linn, Linn, Helms & Kirk, Oklahoma City, Okl. (James A. Kirk, Linn, Helms & Kirk, Oklahoma City, Okl., on the brief), for appellee, Dan Hogan.

Before HILL, McWILLIAMS and DOYLE, Circuit Judges.

WILLIAM E. DOYLE, Circuit Judge.

A question crucial to this appeal is whether in a Chapter X bankruptcy proceeding the district court has summary jurisdiction to restrain a creditor of the debtor from rescinding the contract which it entered into with the debtor prior to the Chapter X proceedings.

Intertek Financial Corp. is one of the debtor corporations. It had entered into a contract with P.M.G. Corporation on May 10, 1973 under the terms of which Intertek...

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