Standard Acc. Ins. Co. v. ET Sheftall & Co.

SIBLEY, Circuit Judge.

At the instance of the appellees, and over the resistance of the appellant, the Wallace Construction Company was adjudged an involuntary bankrupt on the sole ground that within four months before the filing of the petition, and while the construction company was insolvent, it had permitted and consented to a receivership in a state court, and the receiver had taken charge of its property. This appeal followed.

The undisputed facts are these: Union Realty Company, a creditor having a judgment obtained May 22, 1930, and over four months old, which was a general lien against…