Irving Losner, Doing Business as Irving Losner, M.D. v. Union Bank

Appellant Losner filed a voluntary petition in bankruptcy on June 8, 1964 and was adjudicated a bankrupt on the same date. Appellee, one of Losner’s creditors, filed a timely objection to discharge. It alleged that the appellant, within the twelve months immediately preceding the filing of the petition, had concealed a portion of his assets with the intent to hinder, delay, or defraud his creditors. After a hearing the referee in bankruptcy determined that the allegation was true. Pursuant to section 14(c) (4) of the Bankruptcy Act, 11 U.S.C. § 32 (c) (4), he denied appellant a discharge. Losner’s appeal is from an order of the District Court which affirmed the referee’s determination. Our jurisdiction is conferred by section 24(a) of the Bankruptcy Act, 11 U.S.C. § 47 (a).

The referee found, and Losner admits, that he, Losner, withdrew $1000 from his checking account on April 17, 1964, that he carried that sum on his person, in cash, and that subsequently he used the money to purchase cashier’s checks and money orders with which he made payments to several of his creditors.

Appellant urges that the determinative question is “whether the carrying of money upon the person of one…