Alvin Skinner, and All Others Similarly Situated v. W. T. Grant Company, Federal Financial Corporation

ALVIN B. RUBIN, Circuit Judge:

In 1973, Alvin Skinner brought this class action on behalf of New Orleans customers of W. T. Grant, alleging violations of the Consumer Credit Protection Act and the Louisiana usury laws. 1 In 1975, Grant filed a Chapter XI petition leading to reorganization proceedings in the Southern District of New York. During those proceedings, the Bankruptcy Trustee assigned the company’s accounts receivable, including those of its New Orleans customers, to Federal Financial Corp., the appellee. Skinner, in turn, joined Federal Financial as a second defendant, alleging that…