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IN RE HERZ IMPORTING CORP.

No. 71 B 18.

349 F.Supp. 1106 (1972)

In the Matter of The HERZ IMPORTING CORP., Bankrupt.

United States District Court, S.D. New York.

November 1, 1972.

Attorney(s) appearing for the Case

Lifland, Marcus & Angel, New York City, for the trustee-petitioner by Joshua J. Angel, New York City, of counsel.

Lauterstein & Lauterstein, New York City, for petitioner, Peggy Herz by Paul C. Guth, Henry W. Lauterstein, and Timothy M. Finnegan, New York City, of counsel.

OPINION

POLLACK, District Judge.

This is a petition to review a Referee's ruling sustaining summary jurisdiction of the Bankruptcy Court to determine the ownership of the proceeds of a policy of life insurance on the life of Henry H. Herz. The insured was the president of the bankrupt, a close corporation. The insurance was made payable to the corporation as "primary beneficiary, creditor, as its interest may appear, balance of proceeds, if any, to Peggy...

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