In re Allied Development Corp.

JAMES E. DOYLE, District Judge.

From the Chapter XI petition of the debtor and from the facts as found herein by the Referee, it appears that:

The debtor, Allied Development Corporation (hereinafter referred to as Allied), filed a petition on January 19, 1965 for an arrangement under Chapter XI of the Bankruptcy Act. The petition recites that as of November 30, 1964 Allied’s assets were valued by Allied at $3,943,052.03, and its liabilities at $2,-783,064.02. Apparently, therefore, debt- or was not insolvent on January 19 or on January 29, 1965 within the meaning of the Bankruptcy Act. Sec.…