Horn v. ABTS

DAVIS, District Judge.

Appeal by trustee of tbe bankrupt 'estate of H. W. Abts Company from a judgment approving an order of tbe referee in bankruptcy allowing the claim of Michael Abts for $7,000 as an unsecured debt against tbe bankrupt estate.

Michael Abts, tbe claimant, on March 8, 1923, purchased 70. shares of the preferred stock of the H. W. Abts Company, a corporation, for wbicb be paid tbe equiva-' lent of $7,000. Tbe H. W. Abts Company had not complied with section 8116 of the Compiled Statutes of Nebraska, and was therefore not authorized to issue and dispose of its stoek. The…