Commonwealth Trust Co. v. Reconstruction Finance Corp.

On Reargument.

This suit was originally filed "in equity on March 28, 1938. The plaintiff, as trus*589tee in bankruptcy of Colonial Iron Company, was seeking to set aside an agreement of April 6, 1937, whereby the bankrupt corporation had pledged and transferred to defendant a quantity of pig iron located in Somerset County in this District, as a pledge for $125,000 advanced by defendant to the bankrupt, on the ground that the pledge-agreement of April 6, 1937, was fraudulent and void as against the creditors of the bankrupt, the agreement not having been recorded in the Prothonotary’s Office of…