In the Matter of V-I-D, Inc., Debtor. Kelley, Glover and Vale, Inc., Trustee v. McM Coffing, Trustee

In previous appeals, Nos. 11194 and 11265, 226 F.2d 113, the present appellant was before this court. In those cases appellant appealed from orders entered approving a Chapter X (11 U.S.C. A. § 501 et seq.) Reorganization Plan. In our decision, we recognized that the net result of this prolonged litigation was the determination that appellant, a mortgage holder, was relegated to the status of a Class 2 creditor, and that the bond holders were Class 1 creditors. As the assets were insufficient to cover the claims of the Class 1 creditors, appellant’s claim was of no value. Consequently, we…