National Acceptance Company of America, Inc. v. Frigidmeats, Inc.

PELL, Circuit Judge.

This is an appeal arising from a chapter XI proceeding before the bankruptcy court. Because some review of how the case came to be in this court is necessary to understand our disposition, we recount in some detail the case’s long procedural history. The various appellees succeeded in obtaining from the bankruptcy court several so- called “turnover orders” which directed the Debtor-In-Possession, Frigidmeats, Inc., to return to its suppliers, the appellees, certain items of its inventory. The appellant, the National Acceptance Corporation of America, (NACA) claims to have…