Dee

This appeal is from an order entered March 16, 1936, fixing the compensation of appellants as reorganization manager and his attorney for services and expenses in connection with the reorganization of United Exchange Building, Inc., the debtor in a proceeding under section 77B of the Bankruptcy Act, as amended ( 11 U.S.C.A. § 207 ).

*373 In April or May of 1935 the debtor was in default in the payment of interest of its general mortgage bonds, its income was depleted, and it was faced with bankruptcy. A reorganization was deemed necessary, and its vice president consulted appellant Dee who had wide experience in corporate reorganizations. As a result of this and succeeding conferences, Dee agreed to act as reorganization manager for the debtor, and the debtor agreed that the fee therefor should be $19,000, subject, however, to the approval of the court thereof and provided that if no reorganization was accomplished that there would be no charges for Dee’s services.

At the time Dee undertook the direction of the reorganization debtor was the owner of a large office building in Seattle, Wash., its property was encumbered with a first mortgage 6 per cent, bond issue in the sum of…