In re South Bend Lumber Co.

CUSHMAN, District Judge.

On September 10, 1923, the bankrupt made a general assignment of all its property for the benefit of its creditors. The assignees took possession of the property and administered the trust, to the appointment of a trustee in bankruptcy January 10th, 1924. The property was sold by the trustee, the purchaser undertaking to pay the cost of the administration in bankruptcy and all preferred claims. During the administration by the assignees, they secured from the Lumbermen’s Indemnity Exchange, the preference claimant, certain fire insurance upon the property assigned. To…