In the Matter of Federal Shopping Way, Inc., a Washington Corporation, Debtor-Appellant

EUGENE A. WRIGHT, Circuit Judge:

This is -an appeal from an order adopting a report by a referee in bankruptcy, sitting as a special master. It approved an involuntary petition for the reorganization of the debtor-appellant, Federal Shopping Way, Inc., pursuant to Chapter X of the Bankruptcy Act (Act), 11 U.S.C. § 501 et seq. Jurisdiction is conferred on this court by Sections 121 and 24 of the Act, 11 U.S.C. §§ 521 and 47.

The parties to this appeal are the appellant debtor corporation and, as appellees, the petitioning creditors, the Securities and Exchange Commission (S.E. C.), and the…