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IN RE DRAINAGE DIST. NO. 7

25 F.Supp. 372 (1938)

In re DRAINAGE DIST. NO. 7 (LUEHRMANN et al., Interveners).

District Court, E. D. Arkansas, Jonesboro District.

August 25, 1938.

Attorney(s) appearing for the Case

Chas. D. Frierson, of Jonesboro, Ark., for petitioner.

Archer Wheatley and A. P. Patton, both of Jonesboro, Ark., for W. B. Chapman, trustee.

Chas. D. Long, of St. Louis, Mo., and J. B. Daggett, of Marianna, Ark., for objecting bondholders Luehrmann et al.

C. T. Carpenter, of Marked Tree, Ark., and J. T. Coston, of Osceola, Ark., for two objecting creditors.

TRIMBLE, District Judge.

The substance of this plan of debt composition is set out in my former opinion on the constitutionality of the Bankruptcy Act, Secs. 81-84, 11 U.S.C.A. §§ 401-404, reported D.C., 21 F.Supp. 798.

A group of bondholders and one judgment creditor have objected. Their objections cover the following points: That the district is not insolvent but has been made solvent through transactions of...

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