In re Pedlow
Court of Appeals for the Second Circuit
Petition to Revise Order of the District Court of the United States for the Southern District of New York. In the matter of the bankruptcy proceedings of James Pedio w. Petition of Amedeo A. Bertini to revise an order directing the receiver in bankruptcy to sell at private sále the bankrupt’s stock, consisting of'handkerchiefs, linens, and merchandise, and a further order denying a petition to vacate the original order.
1Opinion of the Court
COXE, Circuit Judge.
The question here'presented is whether the court transcended its powers in ordering a sale of the bankrupt’s-property at private sale. There -can be no question that the receiver, according to his best judgment, acted in the interests of the creditors and we are convinced that he acted wisely. After sending notices to twenty-four department stores' offering the merchandise for sale, the receiver obtained three bids, one for $6,500 from Bloomingdale Bros., one from Siegel & Co. for $10,500 and a third for $10,612.50 from Edward Fillmore. Subsequently Siegel & Co. withdrew…
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