In re Portage Wholesale Co.

STONE, District Judge.

On January 21, 1947, the Portage Wholesale Company, a Wisconsin corporation, filed its petition for arrangement under Chapter XI of the Chandler Act, 11 U.S. C.A. § 701 et seq.

On July 25, 1947, it filed herein its second arrangement plan, and pursuant thereto deposited with the court the sum of $25,000.00 and agreed under said arrangement to pay to its unsecured creditors the further sum of $125,000.00, which later on August 18, 1948, by an amended proposal, was increased to $175,000.00.

After the deposit was made the arrangement plan was accepted by the creditors and…