MATTER OF CALLAHAN MOTORS, INC.

No. 75-2197.

538 F.2d 76 (1976)

In the Matter of CALLAHAN MOTORS, INC., a corporation of the State of New Jersey, Debtor. Appeal of PRINCETON BANK AND TRUST COMPANY.

United States Court of Appeals, Third Circuit.

Decided July 8, 1976.


Attorney(s) appearing for the Case

Kleinberg, Moroney, Masterson & Schachter, Robert S. Molnar, Newark, N. J., for Callahan Motors, Inc.

Garrett M. Heher, Smith, Stratton, Wise & Heher, Princeton, N. J., for Princeton Bank and Trust Co., Ann Reichelderfer, Princeton, N. J., on the brief.

Before GIBBONS, Circuit Judge, CLARK, Associate Justice, and HUNTER, Circuit Judge.


OPINION OF THE COURT

JAMES HUNTER, III, Circuit Judge:

The dispute involved in this appeal arose in the aftermath of a petition under Chapter XI of the Bankruptcy Act1 filed by Callahan Motors, Inc. (formerly known as Cregar Motors). Appellant Princeton Bank and Trust Co., which had been involved in the financing of the debtor's automobile dealership, filed a motion to reclaim certain property (funds and automobiles) which it...

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