Atwood-Larson Co. v. Hasvold
Opinion of the Court
This petition to revise the action of the Bankruptcy Court recites that Richmond Equity Exchange, a corporation, was adjudged a bankrupt January 25, 1921, that the first meeting of creditors was held Ecbruaxy 7, 1921, at which Hasvold and other creditors filed written objections to the allowance of the claim made hv petitioner, on the ground that claimant had received from bankrupt within the four months’ period $3,000 in money and wheat valued at $10,000, as payments on the indebtedness to petitioner, and which sums it was alleged by objecting creditors constituted voidable preferences. The referee denied the objecting creditors the right and opportunity to present proof to sustain their objections, overruled them without hearing any testimony and allowed petitioner’s claim. On review the Bankruptcy Court vacated the action of the referee and ordered—
“That the said order of the Referee, dated February 7th, 1921, refusing the request of the objectors to furnish evidence in support of the objections and overruling the objections and allowing the claim of Atwood-Lamm Company, be and the same hereby is reversed and said matter is hereby returned to the Referee with instructions to set a date for hearing said objections, give due notice thereof to the parties interested, or their attorneys, and hear evidence in support of the objections filed to the claim of Atwood-Rarson Company, and if it is found that the objections are established, that an order be made disallowing the claim of Atwood-Rarson Company until they have surrendered any preference that it is found they had received as set forth in the objections to their claim when filed.”
Petition dismissed at petitioner’s costs.
Reference
- Full Case Name
- ATWOOD-LARSON CO. v. HASVOLD In re RICHMOND EQUITY EXCH.
- Status
- Published