Conway v. Bonner

HOLMES, Circuit Judge.

This is a suit by appellant as trustee for the J. E. Chambers Company, Bankrupt, to recover certain shares of stock in other corporations obtained by appellee, a director of the bankrupt, about six months before bankruptcy, in exchange for the stock owned by appellee in the bankrupt corporation.

It appears from the record that the bankrupt continued in business lintil just prior to its adjudication. No attempt was made to prove actual fraud in the exchange of stock. Appellant alleged that the bankrupt was insolvent at the time of the transaction, and, for that reason,…