For Your Data Inwards The Affair Of Drive-In Evolution Corp. Illustration Brief
March 31, 2016
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In the Matter of Drive-In Development Corp. illustration brief summary
371 F.2d 215 (1966)
CASE FACTS
The illustration focused on the circumstances that may bind a corporation to a guaranty of the obligations of a related corporation when it was contended that the corporate officeholder who executed the guaranty had no say-so to create so. The facts giving rising to the inquiry underlie a claim filed past times appellant inwards an organization proceeding nether chapter XI of the Bankruptcy Act, 11 U.S.C.S §§ 701-799.
DISCUSSION
On appeal, the courtroom ruled that a creditor inwards a chapter XI proceeding had the correct to object to the allowance of simply about other creditor's claim.
CONCLUSION
The courtroom reversed the lower courtroom inwards component division together with affirmed the lower courtroom inwards component division stating that a creditor had the correct to object to the allowance of simply about other creditor's claim.
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371 F.2d 215 (1966)
CASE SYNOPSIS
Appellant depository fiscal establishment sought review of the ruling from the States of America District Court of a District inwards Illinois where appellant filed a claim amongst the referee, which was disallowed, together with the referee's determination was confirmed past times the courtroom inwards an organization proceeding nether Chapter eleven of the Bankruptcy Act, 11 U.S.C.S §§ 701-799.CASE FACTS
The illustration focused on the circumstances that may bind a corporation to a guaranty of the obligations of a related corporation when it was contended that the corporate officeholder who executed the guaranty had no say-so to create so. The facts giving rising to the inquiry underlie a claim filed past times appellant inwards an organization proceeding nether chapter XI of the Bankruptcy Act, 11 U.S.C.S §§ 701-799.
DISCUSSION
On appeal, the courtroom ruled that a creditor inwards a chapter XI proceeding had the correct to object to the allowance of simply about other creditor's claim.
CONCLUSION
The courtroom reversed the lower courtroom inwards component division together with affirmed the lower courtroom inwards component division stating that a creditor had the correct to object to the allowance of simply about other creditor's claim.
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