GROVES v. FRESNO GUARANTEE SAVINGS AND LOAN ASS'N

No. 20581.

373 F.2d 440 (1967)

John G. GROVES, Trustee of the Estate of Park Terrace, Bankrupt, Appellant, v. FRESNO GUARANTEE SAVINGS AND LOAN ASSOCIATION, Appellee.

United States Court of Appeals Ninth Circuit.

February 27, 1967.


Attorney(s) appearing for the Case

William T. Richert, Fullerton, Lang, & Richert, Fresno, Cal., for appellant.

John F. Runner, Kimble, MacMichael & Runner, Fresno, Cal., for appellee.

Before BARNES and DUNIWAY, Circuit Judges, and McNICHOLS, District Judge.


DUNIWAY, Circuit Judge:

Appeal from an order of the district court, sitting in bankruptcy.

On September 30, 1964, Park Terrace, a copartnership, filed a petition for an arrangement under Chapter XI of the Bankruptcy Act. Its principal asset was an apartment house in Fresno. It was appointed debtor in possession and authorized to operate the apartment house. The property was subject to a first deed of trust dated October 1, 1963, in favor of appellee, which...

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