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IN RE SHELLEY FURNITURE, INC.

No. 12965.

283 F.2d 540 (1960)

In the Matter of SHELLEY FURNITURE, INC., Bankrupt. EXCHANGE NATIONAL BANK OF CHICAGO, Appellant, v. Francis J. CURTIS, Trustee, Appellee.

United States Court of Appeals Seventh Circuit.

October 31, 1960.

Attorney(s) appearing for the Case

Lawrence J. West, James B. Egan, Chicago, Ill., for appellant.

Louis I. Kessler, Joseph L. Kadison, Chicago, Ill., for appellee.

Before SCHNACKENBERG, KNOCH and CASTLE, Circuit Judges.

KNOCH, Circuit Judge.

On February 21, 1955, an involuntary petition in bankruptcy was filed against Shelley Furniture, Inc. On April 10, 1956, the Trustee in Bankruptcy petitioned the Referee in Bankruptcy to set aside an assignment, made by the Bankrupt on October 30, 1954, to The Exchange National Bank of Chicago. This assignment transferred to the Bank three fire insurance policies and claims thereunder amounting to $50,000. It was alleged that the assignment constituted...

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