Barclays American/Business Credit, Inc. v. Leonard

SACHS, District Judge.

Appellant Barclays American/Business Credit, Inc., a secured creditor of the debt- or, Standard Conveyor Company, seeks reversal of the district court’s1 decision awarding the proceeds of an escrow account in part to Standard’s trustee in bankruptcy and in part to Berwald Investment Co., once a potential purchaser of real property owned by Standard. Out of a $99,000 deposit in the escrow account made by Ber-wald in anticipation of the real estate transaction, $61,234.69 had been returned to Berwald by the escrow agent after the transaction was aborted, and $36,826.20…