MATTER OF CASH CURRENCY EXCHANGE, INC.

No. 84-1340.

762 F.2d 542 (1985)

Matter of CASH CURRENCY EXCHANGE, INC., et al., Debtors. CASH CURRENCY EXCHANGE, INC., et al., Plaintiffs, v. Donald C. SHINE, Receiver, Defendant.

United States Court of Appeals, Seventh Circuit.

Decided May 21, 1985.


Attorney(s) appearing for the Case

Charles W. Murdock, Asst. Atty. Gen., Chicago, Ill., for plaintiffs.

Neal L. Wolfe, Winston & Strawn, Richard W. Cosby, Dozoryst, Cosby & Brustein, Chicago, Ill., for defendant.

Before BAUER, WOOD and CUDAHY, Circuit Judges.


HARLINGTON WOOD, Jr., Circuit Judge.

This appeal raises the novel issue whether community currency exchanges, which are engaged in the businesses of cashing checks and money orders for a fee and selling or issuing money orders, may be debtors under the Bankruptcy Code.

On February 10, 1983, fifty-seven currency exchange corporations filed voluntary petitions for reorganization under chapter 11 of the Bankruptcy Code. Thirty-three of these currency exchanges...

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