B. F. Avery & Sons Co. v. Glenn

HICKS, Circuit Judge.

B. F. Avery & Sons, a Kentucky corporation, herein called the Old Company, had long been one of the leading agricultural implement manufacturers in the country but for three years prior to December, 1932, it had been in straitened financial circumstances, and owed, approximately two and a quarter million dollars to banks, and one hundred thousand dollars each to Huber Manufacturing Company, and to certain stockholders.

On December 6, 1932, the stockholders of the Old Company were called together to consider a plan for refunding its indebtedness and for refinancing future…