Sheehan & Egan, Inc. v. North Eastern Shoe Co.

BINGHAM, Circuit Judge.

This is a petition for leave to appeal from an order of the District Court for Maine in a proceeding in bankruptcy. The appeal was allowed by this court October 19, 1931.

It appears that on April 19, 1939, Sheehan & Egan, Inc., and two other creditors filed a petition in bankruptcy against the North Eastern Shoe Company; that about a year later, on April 29, 1931, the shoe company .filed a petition in the District Court stating that “a composition of 29 per cent upon all unsecured debts not entitled to priority, payable in cash, in satisfaction of its debts will be…