In re Haytian Corp. of America

HULBERT, District Judge.

Petitioners seek to review a Referee’s order in so far as it denies their applications for allowances and disbursements.

The primary question presented by this appeal is whether the court has any power to grant allowances, including disbursements, to the petitioners.

The Debtor, on October 14, 1938, filed a voluntary petition for relief, accompanied by a proposed Arrangement, Schedules and a Statement of Affairs, under Chapter XI, Section 322 of the Bankruptcy Act, 11 U.S.C.A. § 722. Its liabilities consisted of a Fifteen-Year 8% Debenture Bond issue of $3,000,000…