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IN RE VERNAN MFG. CO.

September 28, 1950

In re VERNAN MFG. CO.


The opinion of the court was delivered by: GOURLEY

The present matter relates to divers claims for services rendered in a reorganization proceeding. The Debtor corporation was permitted to pursue its business for approximately ten months. The efforts extended were to no avail and it was directed that the assets of Debtor be liquidated. The funds which remain in the hands of the Trustees were realized from said liquidation.

The original proceeding was filed under Section 128 of Chapter X of the Act of Congress relating to Bankruptcy. 11 U.S.C.A. § 528. No plan or plans of reorganization were recommended to the Court. The further conduct of the proceedings must be directed pursuant to Article 12 of Chapter X, Sections 236-238 of the Act of Congress relating to Bankruptcy. 11 U.S.C.A. §§ 636-638.

 Since the reorganization proceeding must be dismissed and the Debtor corporation adjudicated a bankrupt, it becomes necessary for the Court to consider the reasonable allowances to be granted for services rendered by any proper party during the effectiveness of the reorganization proceeding. Chapter X, article 13, Sections 241-243 of the Act of Congress relating to Bankruptcy. 11 U.S.C.A. §§ 641-643.

 (a) Claim of Charles G. Hasson, Trustee.

 Claim has been filed for the amount of $ 4,000.00, $ 1,050.00 having previously been paid on account, making a net claim of $ 2,950.00 and unpaid expenses of $ 248.48. $ 2,250.00 will be approved as an additional allowance together with reimbursement of unpaid expenses in the amount of $ 248.48.

 (b) Claim of Pat B. Cosgrove, Additional Trustee.

 Claim has been filed for the amount of $ 4,500.00, $ 3,000.00 having previously been paid on account, making a net claim of $ 1,500.00 and unpaid expenses of $ 150.55. $ 300.00 will be approved as an additional allowance together with reimbursement of unpaid expenses in the amount of $ 150.55.

 (c) Claim of Leonard Sobol, Esq., Attorney for Trustees.

 Claim has been filed for the amount of $ 4,000.00, no payment having been made on account, and unpaid expenses of $ 353.00. $ 3,300.00 will be approved together with reimbursement of unpaid expenses in the amount of $ 353.00.

 (d) Claim of Seymours Silverstone, Attorney for Debtor Corporation.

 Claim has been filed for the amount of $ 750.00, no payment having been made on account. $ 100.00 will be approved.

 (e) Claim of Kountz, Fry, Staley & Meyer, and Graham, Yost, Meyers & Graham, counsel for Merchandise Creditors' Committee.

 Claim has been filed for the amount of $ 1,500.00. $ 1,500.00 will be approved.

 (f) Claim of Adelbert E. Bronson, creditor of Debtor and Subrogee of Squire, Sanders & Dempsey, ...


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