Texas Nat. Bank of Beaumont v. Edson

HOLMES, Circuit Judge.

Appellee was adjudged a bankrupt on November 20, 1936, his schedule showing liabilities in excess ’ of $400,000, and assets, over his exemptions, of slightly less than $7,000. Petition for discharge was filed on December 31, 1936, to which specifications of objections were duly filed by appellant. Two grounds of objection were specified: First, that appellee failed to keep books of account or records from which his financial condition and business transactions might be ascertained, and second, that appellee failed to explain loss of assets.

At the first meeting of…