In the Matter of Tauber on Broadway, Inc., a Corporation, Bankrupt. Universal C.I.T. Credit Corporation v. Gerald P. Grace, Trustee

MAJOR, Circuit Judge.

Tauber on Broadway, Inc. was adjudicated an involuntary bankrupt on March 5, 1958. Gerald P. Grace (ap-pellee) was named receiver and subsequently trustee. Jack Welfeld was appointed as his attorney. Universal C.I.T. Credit Corporation (hereinafter referred to as C.I.T.) was the largest creditor. On October 15, 1958, the trustee requested leave to employ Joseph H. Schwartz and Ira S. Kolb of the Chicago Bar as associate counsel with Jack Wel-feld, to prosecute a certain claim, hereinafter described, against C.I.T. Both prior and subsequent to adjudication Schwartz and…