Alex Wolf as Trustee in Bankruptcy of Regent Case Co., Inc., Bankrupt v. Aero Factors Corporation

The comprehensive and excellent opinion of Judge Leibell covers a number of points not raised on this appeal. With respect to the matters which appellant has urged upon us, however, and which we have accordingly considered, only one requires comment. Otherwise, we affirm on the opinion below.

On June 1, 1949, and long prior to the bankruptcy, a factoring agreement was entered into by the defendant and the bankrupt, pursuant to which loans were made by defendant from time to time on the security of assigned accounts receivable. The agreement provided that defendant could apply any reserve on…