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CARIBBEAN FOOD PROD. v. BANCO CREDITO, ETC.

No. 77-1447.

575 F.2d 961 (1978)

In re CARIBBEAN FOOD PRODUCTS, INC., et al., Debtors-Appellees, v. BANCO CREDITO AHORRO PONCENO, Defendant-Appellant.

United States Court of Appeals, First Circuit.

Decided May 4, 1978.

Attorney(s) appearing for the Case

Lawrence Odell, San Juan, P. R., with whom Juan F. Doval, San Juan, P. R., was on brief, for defendant-appellant.

W. H. Beckerleg, Hato Rey, P. R., for debtors-appellees.

Before COFFIN, Chief Judge, BOWNES and MOORE, Circuit Judges.

BOWNES, Circuit Judge.

The primary issue in this case is whether Bankruptcy Rule 11-44(a) is applicable where there had been a loan agreement entered into between debtors and the principal creditor prior to the effective date of the rule. Creditor-appellant also contends that the bankruptcy court's order under Rule 11-44(a) is either moot because of the subsequent adjudication of the debtors as bankrupts or ineffective because of a lack of compliance by the debtors...

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