This is an appeal from the final orders of distribution and disbursement entered by the district court in this protracted1 and complex bankruptcy case.

Litigation began on December 28, 1961, when an involuntary petition in bankruptcy was filed against American Bonded Mortgage Co., Inc., followed on February 12, 1962, by a Chapter X reorganization petition. Also in 1962, Chapter X petitions were filed naming Flora Sun Corporation and Aspic Investments Corporation. In 1965, the district court consolidated the three reorganizations for purposes of administration, although separate accountings were filed in each case throughout the reorganization proceedings.

The reorganization proceedings were terminated in February 1968,2 and the three corporations were adjudicated as bankrupt. The district court then consolidated for all purposes the three cases in bankruptcy.

Appellant William H. Cahn was president of each of the three corporations involved in this action. He was sole stockholder of Aspic Investments, holder of all stock issued and outstanding of American Bonded, and principal stockholder of Flora Sun. On this appeal Cahn asserts that (1) as owner of 100% of the capital stock of Aspic Investments, he is an “aggrieved party” within the meaning of that term as used in § 25 of the Bankruptcy Act,3 and (2) trustee Nicholas should be required to separately account for the funds in his hands from Aspic and use .them only for payment of Aspic’s creditors and administrative expenses.4

*530The question of appellant Cahn’s standing to bring this appeal was raised by appellee’s motion to dismiss. The general rule in this circuit is that an aggrieved party under § 25 of the Bankruptcy Act is only one who has a direct and substantial interest in the question appealed from. Edell v. Di Piazza, 345 F.2d 336 (5th Cir., 1965); 2 Collier on Bankruptcy, § 25.08. See Wells v. Dickinson, 403 F.2d 635 (6th Cir., 1968).5 Appellee Nicholas contends that Cahn, as a mere stockholder of the bankrupt corporations, has no interest in the distribution of the assets in the bankruptcy proceedings. Appellee additionally urges that the total aggregate funds in the hands of the trustee is only $27,000, whereas the claims filed in the Aspic proceedings alone total $1,390,114.32 (of which $1,122,000 are partially or wholly secured). These arguments are persuasive, but in the interest of putting an end to this litigation we decline to dispose of this case on the sole ground of standing.

Instead we have carefully delved into the voluminous record on appeal, leading us to the conclusion that the district court did not err in his findings that the record of accountings filed by the trustee fully revealed the disposition of all funds coming into his hands and the uncontested status of claims and administrative expense,6 and that the record indicated there is no equity for the stockholders of any of the three corporate bankrupts. We thus reject appellant’s request that a separate accounting be ordered.

We take note that due notice was given to all creditors of the three bankrupts of the final meeting of creditors, advising of the amount of funds on hand, the fees requested, and the amount and category of priority claims. A determination of priority claims and allowances was made in open court. No creditor objected at the hearing, nor have any appealed from the court’s orders. There is not the slightest indication of unfairness or of an abuse of discretion in the district court’s determinations.

Accordingly, the orders of the district court under review are affirmed.