Wood v. Scott

Appellant (hereinafter called the debtor) on February 5, 1948, filed a petition for an arrangement under § 322 of the Bankruptcy Act, 11 U.S.C., § 722, 11 U.S.C.A. § 722. The arrangement proposed contemplated continuance by the receiver of the debtor’s business known as “Card and Gift Shop,” sale of the merchandise for pay ment of claims pursuant to court order and return to the debtor of the business, together with the remaining stock and all other assets after all allowed unsecured debts had been paid. The proposed arrangement also stated: “The debtor expects in March 1949 to receive in his…