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IN RE ROMINE

No. B-73-B-11.

418 F.Supp. 19 (1976)

In re James Laurel ROMINE, Bankrupt. Harrell SIMPSON, Jr., trustee, Plaintiff, v. PHILCO FINANCE CORPORATION, INC., and the Insurance Company of North America, Surety, Defendants.

United States District Court, E. D. Arkansas, N. D.

April 22, 1976.

Attorney(s) appearing for the Case

H. David Blair, Batesville, Ark., for bankrupt.

James L. Sloan, Little Rock, Ark., for trustee.

Melvin D. Benitz, St. Charles, Mo., Chester Lowe, Little Rock, Ark., for defendants.

MEMORANDUM OPINION AND ORDER

SHELL, District Judge.

This is a proceeding for review of an Order entered by the Bankruptcy Judge on December 3, 1974 disallowing a claim presented by the Reclamation Petition of appellant Philco Finance Corporation.

The question presented here for review is whether the contract by which Philco "floor-planned" merchandise to the bankrupt was void because of usurious rates...

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