Citations
- 98 F.2d 841
Full opinion text
TREANOR, Circuit Judge.
This is an appeal from the District Court’s decree, made in the course of a' reorganization proceeding, disallowing a claim for services which were rendered prior to the filing of the petition for reorganization.
The claimant-appellant is successor-trustee under a deed of trust 'which the debtor herein executed on March 28, 1927, for the purpose of securing an issue of $1,425,000 first mortgage bonds. As such trustee, and pursuant to the terms of the trust deed, the claimant performed numerous services intended to enforce and protect the bondholders’ lien and to preserve the value of the property which was security for the bonds. It is not disputed that the claimant and his attorney rendered services of substantial value. • •
On June 11, 1934, the debtor filed a petition for reorganization under Section 77B of the Bankruptcy Act, and on December 27, 1934, claimant-appellant filed proof of claim for services as trustee prior to June 11, 1934, the date on which the petition for reorganization was filed. Thereafter the Empire Building Bondholders Protective {.Committee submitted a plan of reorganization which provided for the following allowances, subject to a stated order of priority: