Robinson
Robinson v. Edler
Opinion
Lead Opinion
Sure, J.
This is an appeal from an order of the District Court of Nevada, approving and .confirming an order of the referee in bankruptcy with reference to a claim filed by appellants against the bankrupt estate of the Owl Drug Company.
The claim originated in a contract dated March 11, 1926, between Lester L. Robinson and Fred Barman, appellants’ assignors, on the one part, and the Owl Company, on the other, wherein Robinson and Barman sold to the Owl Company a one-half interest in the issued capital stock of the Fifth & Broadway Building Company in Los Angeles, for the aggregate sum of $1,309,584, payable in installments over a period of years; the last installment falling due on June 1, 1963.
The Owl Drug Company was adjudged a bankrupt on October 10, 1932. On April 6, 1933, appellants filed a secured claim, which, after objections by the trustee, was amended. The amended proof claimed a debt for the balance due on the purchase price of the stock, plus damages for the anticipatory breach of the obligation of the Owl Company guaranteeing the payment of principal and interest of a bond issue of the Fifth & Broadway Building Company. Hearing was had, following which the referee made the…