Bragg v. Gerstel

SIBLEY, Circuit Judge.

Bids for all the race track assets of Hollywood Jockey Club, Inc., a bankrupt, were considered in open creditors’ meeting, adjourned over twice for further consideration, whereupon that of James Donn, as trustee for Gulfstream Park Racing Assn., Inc., was recommended by Gerstel, trustee in bankruptcy, for acceptance as against one made by T. E. Bragg, who is connected with another race track. The referee, making a careful statement of his reasons, directed the acceptance of the Donn bid. Bragg and several creditors brought the matter for review before the judge, offering…