Margolin v. Moskowitz

On December 15, 1936, the objecting creditor Moskowitz recovered a judgment against the bankrupt Margolin for $356. Margolin gave a financial statement to General Public Loan Corporation to obtain a loan of $300 but failed to list among his liabilities this judgment as well as one by Gimbel Bros, of $233.75. It was claimed by Margolin, and found by the referee, that General Public Loan Corporation was advised of the existence of these judgments prior to making its loan. But, to sanction such a finding involved too great a tax on the credulity of Judge Galston, who reversed the referee, and…