In the Matter of Stratford Financial Corporation, Debtor. Stratford Financial Corporation and the Official Creditors' Committee v. Finex Corporation

FEINBERG, Circuit Judge:

The question on this appeal is whether we should overturn an order of Referee Edward J. Ryan, affirmed by the United States District Court for the Southern District of New York, Irving Ben Cooper, J.; the order dismissed the petition of Stratford Financial Corporation (“Stratford”), a Chapter XI debtor-in-possession, to compel Finex Corporation (“Finex”) to turn over $25,000. For the reasons set forth below, we affirm.

The $25,000 represents the proceeds of five checks payable to Stratford by Seefeld Hermanos, S.A. (“Seefeld”), an Argentinean firm. Stratford acquired…