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IN RE HAMMAN-McFARLAND LUMBER CO.

No. 77-2913.

629 F.2d 569 (1980)

In re HAMMAN-McFARLAND LUMBER COMPANY, an Arizona Corporation, Debtor. Wallace PERRY, Trustee, Plaintiff-Appellant, v. Larry HAMMAN et ux., et al., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

As Amended on Denial of Rehearing April 11, 1980.

Attorney(s) appearing for the Case

James M. Marlar, Rawlins, Ellis, Burrus & Kiewit, Phoenix, Ariz., for plaintiff-appellant.

Henry Jacobowitz, Kaplan, Kaplan, Jacobowitz & Hendricks, P.A., Phoenix, Ariz., for defendants-appellees.

Before KILKENNY, ANDERSON and SCHROEDER, Circuit Judges.

SCHROEDER, Circuit Judge.

This appeal is from the trial court's judgment denying recovery by the receiver in bankruptcy proceedings of deferred payments made by the debtor corporation to some of its shareholders under a stock redemption agreement. The receiver brought the claim under § 70(e) of the Bankruptcy Act, challenging the validity of the payments under applicable Arizona law. The trustee, substituted for the receiver, urges here that the bankruptcy court...

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