Legal Opinion
In re Alda Commercial Corp.
District Court, S.D. New York
Decided March 25, 1969No. 68 B 711Published
1Opinion of the Court
MEMORANDUM
BONSAL, District Judge.
This appeal from an order made by Referee Babitt on December 18, 1968 raises the question as to whether subordinated creditors are to be denied their right to vote for the election of a trustee at the first creditors’ meeting because they are deemed to have made an equitable assignment of their claims to the unsubordinated creditors.
On July 11, 1968, Alda Commercial Corporation (the bankrupt) executed a general assignment for the benefit of creditors, and on October 2, 1968 was adjudicated bankrupt following the filing of an involuntary petition in bankruptcy…
2Cases cited6 opinions
- In re Credit Industrial Corp.Court of Appeals for the Second Circuit · 1966
- In Re Aktiebolaget Kreuger & TollCourt of Appeals for the Second Circuit · 1938
- In Re Latham Lithographic CorporationCourt of Appeals for the Second Circuit · 1939
- In Re Itemlab, Inc.District Court, E.D. New York · 1961
- In the Matter of Credit Industrial Corporation, Bankrupt. Milton S. Gould, I. Alan Harris and Henry Landau, Trustees-Petitioners-Appellants, Jeanne Levin, of the Estate of Leo B. Levin, Deceased, Rose Friedman, Edith Keller, Beverly Keller, Pauline Goldstein, Fannie Winnick, Samuel Coslow, Benjamin Fried, Marcus Fried, Milton Schwartz, Arthur Hilton, Gertrude L. Hilton and Edward H. Bottner, Claimants-Respondents-AppelleesCourt of Appeals for the Second Circuit · 1966
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