In Re Esther B. Destro, Unidesco, Inc., Bankrupt. Lucien Pellerin v. Jon R. Stuhley, Trustee

CRAIG, District Judge.

Plaintiff was the holder of two promissory notes in the amount of $25,000.00 each, made by the bankrupts and secured by trust deeds on certain real property of the bankrupts. On May 1, 1976, the bankrupts.and the plaintiff entered into an agreement whereby the bankrupts promised to give the plaintiff $5,000.00 cash, plus a new note for $20,000.00, secured by a new trust deed on the bankrupts’ real property located in Buena Park, California. In consideration of the above the plaintiff promised to reconvey to the bankrupts the original two trust deeds owned by plaintiff.…