Kent-Reese Enterprises, Inc., Raymond Douglass and Robert Reese v. Walter Hempy, Trustee of Big Boy Markets, Inc., Bankrupt

While I am compelled to agree with the result that is reached, I discount the force of some of the considerations which my Brothers have emphasized.

The fact that Douglass and Reese were officers of both Kent-Reese and Big Boy L irrelevant. There is no suggestion that either was guilty of actual fraud and, as noted in the principal opinion, “Neither side has questioned their good faith.” With others involved, and pursuant to competent legal advice, they entered into an open, good faith arrangement by which there was an attempt to create a secured, immediately effective right.

The agreement was…