Schmitt v. Lumbard

HAIGHT, District Judge:

Carl F. Schmitt, Superintendent of Banks of the State of California (the “Superintendent”) appeals from three orders of the Hon. John J. Galgay, Bankruptcy Judge, which in effect directed the Superintendent to turn over to Eliot Lumbard, the Receiver of debtor-in-possession Universal Money Order Co. (“UMO”) assets of UMO which the Superintendent had seized in California. The Receiver and UMO resist the Superintendent’s appeal, which is before the Court pursuant to Bankruptcy Rules 801 et seq. For the reasons stated, the orders appealed from are affirmed.

I

The facts as…