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IN RE GRAYSON-ROBINSON STORES, INC.

215 F.Supp. 921 (1963)

In the Matter of GRAYSON-ROBINSON STORES, INC., Debtor-in-Possession.

United States District Court S. D. New York.

As Amended April 8, 1963.

Attorney(s) appearing for the Case

Richard V. Bandler, New York City, Martin Mushkin, New York City, for Securities & Exchange Comm.

Paul, Weiss, Rifkind, Wharton & Garrison, New York City, by Lloyd K. Garrison, and Eugene F. Roth, special counsel, New York City, for debtor.

Ballon, Stoll, Shyman & Levine, New York City, for Cred. Comm. by Frederick E. M. Ballon, Esq. of counsel, Phillips, Nizer, Benjamin, Krim & Ballon, New York City, by Eugene M. Kline, New York City, of counsel.

Schlesinger & Teller, New York City, by I. E. Schlesinger, New York City, for creditor.

EDELSTEIN, District Judge.

On August 14, 1962, Grayson-Robinson Stores, Inc., the debtor, filed a petition for an arrangement under Section 322 of Chapter XI of the Bankruptcy Act, (11 U.S.C. § 722). The Securities and Exchange Commission has moved pursuant to § 328 of the Bankruptcy Act to (1) intervene in the debtor's pending Chapter XI proceeding and (2) to dismiss the Chapter XI petition unless, within a period to be fixed by this court, the petition...

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