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FOUST INVESTMENT COMPANY v. CREST INVESTMENT TRUST, INCORPORATED

No. 11239.

382 F.2d 540 (1967)

FOUST INVESTMENT COMPANY, Inc., a Debtor, Appellant, v. CREST INVESTMENT TRUST, INCORPORATED, and Maryland Holding Company, Incorporated, Appellees. In the Matter of Foust Investment Company, Inc., a Debtor.

United States Court of Appeals Fourth Circuit.

Decided August 29, 1967.

Attorney(s) appearing for the Case

Woodrow E. Faulkner, Washington, D. C. (Ralph R. Curry, Arlington, Va., on brief), for appellant.

Irving Bowers, Baltimore, Md., for Crest Investment Trust, Inc.

Before HAYNSWORTH, Chief Judge, and BOREMAN and WINTER, Circuit Judges.

PER CURIAM:

Foust Investment Company, Inc., filed its petition for a reorganization under Chapter X of the Bankruptcy Act in the District Court at Alexandria, Virginia. Foust is a Virginia corporation whose principal assets consist of an old, nonoperating, dilapidated distillery in Glen Rock, Pennsylvania, and certain distilling equipment. No plan of reorganization was disclosed and no current financial statement indicating insolvency was ever presented to the court...

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