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COASTAL FINANCE CORP. v. COASTAL FINANCE, ETC.

No. 77-7-Appeal.

387 A.2d 1373 (1978)

COASTAL FINANCE CORP. v. COASTAL FINANCE CORP. OF NORTH PROVIDENCE.

Supreme Court of Rhode Island.

June 20, 1978.

Attorney(s) appearing for the Case

Carroll, Kelly & Murphy, Dennis S. Baluch, Providence, for appellants Joseph E. Conneally and Helen J. Conneally.

John Quattrocchi, Jr., Vincent A. Ragosta, Providence, Louis J. Perez, Pawtucket, Francis Castrovillari, Cranston, for other appellant-investors.

Dick & Hague, William F. Hague, Jr., Providence, for appellee Walter E. Heller & Co.

OPINION

DORIS, Justice.

This civil matter arises out of receivership proceedings and concerns conflicting petitions to reclaim the assets of an insolvent corporation. After a hearing in the Superior Court, an order was entered granting the petition of Walter E. Heller and Company (Heller), a secured creditor, and denying the petition of certain holders of corporate notes and debentures (the investors). On appeal, the investors seek to set aside the claim...

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