REINER v. WASHINGTON PLATE GLASS CO., INC.

No. 82-2241.

711 F.2d 414 (1983)

Edward G. REINER, Appellant, v. WASHINGTON PLATE GLASS CO., INC.

United States Court of Appeals, District of Columbia Circuit.

Decided July 22, 1983.


Attorney(s) appearing for the Case

Richard H. Gins, Silver Spring, Md., with whom Jeffrey M. Sherman, Washington, D.C., was on brief, for appellant.

Herbert L. Karp, Washington, D.C., for appellee.

Before WALD and SCALIA, Circuit Judges, BAZELON, Senior Circuit Judge.


Opinion for the Court filed by Circuit Judge WALD.

WALD, Circuit Judge:

In 1977, appellee Washington Plate Glass Co., a D.C. corporation, repurchased the 50% stock interest held by appellant Edward Reiner. The company paid for the shares with a secured note for $350,000 payable over ten years, with interest at 6%. The company was solvent both before and after the repurchase and the transaction was not made in contemplation of bankruptcy.

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