MATTER OF FREED & CO.

No. 75-2117.

534 F.2d 1235 (1976)

In the Matter of FREED & CO., Debtor. AKRON NATIONAL BANK & TRUST CO., Plaintiff-Appellant, v. FREED & CO. et al., Defendants-Appellees.

United States Court of Appeals, Sixth Circuit.

Decided May 4, 1976.


Attorney(s) appearing for the Case

Frederick M. Lombardi, Buckingham, Doolittle & Burroughs, Akron, Ohio, for plaintiff-appellant.

Malcolm D. Obenour, Akron, Ohio, for Freed & Co.

Weiner, Orkin, Abbate & Suit Co., Mark A. Moorstein, Shaker Heights, Ohio, for defendants-appellees.

Before WEICK, EDWARDS and CELEBREZZE, Circuit Judges.


WEICK, Circuit Judge.

This appeal presents the question whether the Bankruptcy Court has jurisdiction in a Chapter XI proceeding to enjoin a foreclosure proceeding pending in a state court more than four months prior thereto, in order to protect equity in the mortgaged property available to general creditors.

Freed & Company (Freed) owns a tract of land in Medina County, Ohio, on which a subsidiary operates an airport known as Freedom Field. Akron National...

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