Mercantile Trading Co. v. Rosenbaum Grain Corp.

EVANS, Circuit Judge.

This is an appeal from an order in a 77B proceeding authorizing the transfer to Cargill Elevator Company for $70,000 (and assumption of rent liability) of a sixty day leasehold interest in a large grain elevator, which was an asset in the debtor’s estate.

The Facts: The Rosenbaum Corporation, an Illinois company, filed a voluntary petition under section 77B of the Bankruptcy Act (11 U.S.C.A. § 207), April 23, 1935. Its petition stated that it bought and sold grain, having offices in twenty-one cities; that it owned three subsidiaries — Chicago Elevator Properties (a…