K. D. Kyle v. Ernest L. Stewart, Trustee of P & M Manufacturing Co., Inc.

JOHN R. BROWN, Circuit Judge:

This case presents again the frequent problem of summary jurisdiction versus a plenary suit in a Trustee’s efforts to recover property (or proceeds) of the Bankrupt Estate. Kyle, the Respondent-Appellant, was a principal stockholder, the executive vice-president, and a director of the corporate Bankrupt and received the properties in question as a result of a prebankruptcy liquidation agreement executed by all of the three stockholders. The Referee, affirmed by the District Court on petition to review, upheld summary jurisdiction. We agree and affirm.

Although the…