Oriole Phonograph Co. v. Kansas City Fabric Products Co.
| Decision Date | 29 August 1929 |
| Docket Number | No. 8574.,8574. |
| Citation | 34 F.2d 400 |
| Parties | ORIOLE PHONOGRAPH CO. et al. v. KANSAS CITY FABRIC PRODUCTS CO. et al. |
| Court | U.S. Court of Appeals — Eighth Circuit |
Thomas Hackney, of Kansas City, Mo. (John Kramer, Hackney & Welch, and Edwards, Kramer & Edwards, all of Kansas City, Mo., on the brief), for appellants.
Harry I. Schwimmer, of Kansas City, Mo. (Milford Rider, Fred Bredehoft, and Manard & Schwimmer, all of Kansas City, Mo., on the brief), for appellees.
Before STONE, BOOTH, and GARDNER, Circuit Judges.
This is an appeal from a judgment and order entered on the 23d day of October, 1928, confirming a composition with creditors of the A. J. Stephens Company, a Missouri corporation.
On January 4, 1928, an involuntary petition in bankruptcy was filed against the A. J. Stephens Company by certain of its creditors. On March 3, 1928, the bankrupt filed its offer of composition. The referee in bankruptcy made report that 169 creditors, having unsecured claims filed and allowed in the sum of $82,087.24, had filed written acceptance of and had voted to accept the offer of composition; that 27 creditors having unsecured claims, filed and allowed in the sum of $44,423.71, did not accept; and that the offer of composition had been accepted in writing by a majority of all creditors whose claims had been allowed, which number represented a majority in amount also of such claims.
The appellants filed objections to the report; whereupon the matter was referred to the referee, who is designated as referee and special master for examination. The appellants, as well as other creditors, appeared at and participated in the hearing before the referee, and in due time the referee made report and findings, finding, among other things, that a substantial financial plan and arrangement had been arranged and was available for the performance of every provision of the offer of composition upon the formation thereof, and that the directors and officers of the company had a definite plan of operating, financing, and refinancing the corporation and for the carrying out of all of the terms of the composition, and that thereby adequate capital for that purpose had been provided for with which to carry out the provisions made in the composition, and to secure the deferred payments as provided therein; that under the offer of composition the estate would pay a larger dividend than could be realized under the administration of the officers of the United States District Court in the usual and ordinary method provided by the Bankruptcy Act (11 USCA). The referee concluded and reported that in his opinion the objecting creditors had failed to sustain any of their objections and that they should be overruled, and that the offer of composition was for the benefit of creditors and that it should be confirmed.
The six creditors appearing as appellants herein filed exceptions and objections to this report and findings, which on hearing were overruled. The findings of fact and conclusions of law made by the referee and special master were adopted and the composition confirmed.
In the view we take of the matter, the specific terms and provisions of the composition are not material. On this appeal, appellants seek to review the evidence upon specification...
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In re Morrilton Plastics Products, Inc.
...or incorrectness of the challenged findings, such findings cannot be questioned on review."); Oriole Phonograph Co. v. Kansas City Fabric Products Co., 34 F.2d 400, 401 (8th Cir.1929). But see Garland v. Peebles, 1 F.3d 683 (8th Cir.1993) (standards for determining whether dismissal for fai......
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Howard v. Chicago, B. & QR Co.
...establishing the facts, they being presumptively correct. Sublette v. Servel, Inc., 8 Cir., 124 F.2d 516; Oriole Phonograph Co. v. Kansas City Fabric Products Co., 8 Cir., 34 F.2d 400. The court found that plaintiff was employed by defendant as a student helper August 1, 1899; that he was p......
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Page v. Castiel (In re Ellipsat, Inc.)
...received payments under the plan from challenging the validity of the order approving the plan. See Oriole Phonograph Co. v. Kansas City Fabric Prods. Co. , 34 F.2d 400, 401 (8th Cir. 1929). Many years after Union Provision and Oriole Phonograph Co. were decided, the Supreme Court called in......
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Spanel v. Berkman, 9534
...v. Lee, 286 Ill.App. 1, 5, 3 N.E.2d 389; Allen v. Bank of Angelica, 2 Cir., 34 F.2d 658, 659; Oriole Phonograph Co. et al. v. Kansas City Fabric Products Co. et al., 8 Cir., 34 F.2d 400, 401; Altman v. Shopping Center Bldg. Co., 8 Cir., 82 F.2d 521, 526. The plaintiff, however, contends tha......