Irving Trust Co. v. Climax Rubber Co.

AUGUSTUS N. HAND, Circuit Judge.

Retail Chemists Corporation, a. New York corporation, filed a voluntary petition in bankruptcy in the United States District Court for the Southern District of New York on July 37,1932. On the same day the Irving Trust Company was appointed and qualified as receiver in bankruptcy and continued to act as receiver until August 12,1932, when its election as trustee in bankruptcy was approved by the referee.

Until shortly before the bankruptcy proceedings, the bankrupt corporation had been known as the Whelan Drug Company and had owned and operated a chain of drug…