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IN RE MATTER OF FINANCIAL CORP. v. OCCIDENTAL PETROLEUM CORP.

No. 80-1050.

634 F.2d 404 (1980)

In the Matter of: FINANCIAL CORPORATION, Bankrupt, Albert Walters, Appellant, v. OCCIDENTAL PETROLEUM CORPORATION, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided November 26, 1980.

Attorney(s) appearing for the Case

Larry E. Sells, Kansas City, Mo., for appellant; Russell J. Weintraub, Austin, Tex., of counsel.

Jack N. Bohm, Stoup & Bohm, Kansas City, Mo., for appellee.

Before HEANEY, BRIGHT and ROSS, Circuit Judges.

PER CURIAM.

In this bankruptcy appeal the appellee, Occidental Petroleum Corporation (hereinafter Occidental), entered into a financial transaction with the bankrupt, Financial Corporation (hereinafter Financial), whereby Occidental purchased $10,000,000 in treasury bills from Financial on or about June 30, 1975. Financial had either an obligation, as claimed by Occidental, or a right, as claimed by the appellant, a creditor of Financial, to repurchase these treasury...

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