In re Builders' Finance Ass'n

This issue arises on exceptions to tbe findings of fact and report of tbe special master, wherein be concludes that tbe Builders’ Finance Association, Inc., a corporation, was solvent *124 on October 18, 1927, tbe date on which a creditors’ petition in bankruptcy was filed in this court asking that said corporation be declared bankrupt; The alleged bankrupt will be referred to herein as the association.

This matter was referred to the special master upon motion of the association for the purpose of determining the issues raised by the answer and specifically whether the association was insolvent and should be adjudged bankrupt pursuant to the National Bankruptcy Law (11 US CA). The order of reference was not made by consent of the parties, and of course, under such circumstances, not only the legal conclusions drawn by the master, but his findings of fact as well, are properly before the court for decision under the exceptions on file. These exceptions are several, but under the conclusions reached it is only necessary to consider those which find and determine that the association was solvent at the time of the filing of the creditors’ petition, and that therefore the…