Arey & Russell Lumber Co., Inc. v. American Nat. Bank & Trust Co. Of Danville, Virginia

This is an appeal from an order dismissing a petition for reorganization under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq., on the ground that it was not filed in good faith. The indebtedness of petitioner consisted of taxes due the United States amounting to $4,042, unsecured claims of approximately $5,232 and a debt of $12,400 due the American Bank and Trust Company of Danville, Va. secured by a deed of trust on its plant. The property had been advertised for sale under this deed of trust when petitioner, for the purpose of delaying the sale, filed a petition for an…