Speed Equipment Worlds of America, Inc. v. Hunt

AINSWORTH, Circuit Judge:

Speed Equipment Worlds of America (SEW), one of the appellants here, is a franchisor of “speed shops,” which supply automobile accessories to private individuals in retail establishments. Appellee Jimmy Hunt operated two of these franchises until February 18, 1973, when he closed down and vacated the two stores and removed the inventory to a warehouse. On February 22, 1973, appellant SEW and the four other appellants, as petitioning creditors, filed an involuntary petition in bankruptcy *884against appellee Hunt, praying that Hunt be duly adjudged a bankrupt under the…