In Re Reading Hotel Corporation

KIRKPATRICK, District Judge.

This petition under section 77B of the Bankruptcy Act (11 USCA § 207) was referred to a special master for the purpose, among others, of reporting upon the solvency or insolvency of the debtor. The special master has filed his report in which he has found that the debtor is “definitely and hopelessly” insolvent and exceptions have been taken to this finding.

If we accept the definition of insolvency given in section 1 (15) of the Bankruptcy Act (11 USCA § 1 (15), there can be no possible doubt that the master’s finding is correct. It was not remotely suggested, even…