Wilcons v. Penn Mut. Life Ins.

BRATTON, Circuit Judge.

On January 13, 1936, appellant, hereinafter called the debtor, filed his petition in the United States court for Kansas for a composition or extension of his debts under section 75 (a to r) of the Bankruptcy Act, as amended, 11 U.S.C.A. 203 (a-r). The Penn Mutual Life Insurance Company and the Equitable Life Assurance Society were listed as his only secured creditors. The mortgage of the Penn Company covering 240 acres of land, and that of the Equitable Company covering 160 acres, had already been foreclosed in the state court, the property had been sold by the sheriff…