Nolen v. Ware Trust Co.

McLELLAN, District Judge.

The trustee in bankruptcy of the Ironide Foundry, Inc., seeks an accounting and the 'recovery of certain sums received by the defendant which are alleged to have constituted voidable preferences.

The involuntary petition -in bankruptcy was filed November 28, 1933, and during the period of four months prior thereto, the Ironide Foundry, Inc., was insolvent. During this period, the defendant made approximately forty loans to and received from the bankrupt approximately forty promissory notes. Each of such notes was accompanied by the assignment as security therefor of…