In Re Geo. P. Schinzel & Son, Inc.

HAND, Circuit Judge.

The agreement did not disturb the ownership of the bankrupt’s assets in any way whatever; it merely transferred the corporate share to a trustee. When former creditors continued to sell to the bankrupt, they got no pledge or mortgage as security; if they have any similar right, it must be by an equitable lien. What is the basis for any such? Nothing in the agreement, except the bankrupt’s covenant to keep the trustee in funds with which to discharge such claims. But this was only a bare promise, like the promise to pay for the goods when they were bought. However, all the…