Buckley

Appellant Clendenen was a beneficiary under a deed of trust and appellant Bakersfield Abstract Company was named trustee therein. In 1937 default occurred in the note secured by the deed, and at the instance of the beneficiary the trustee caused notice of default to be recorded in the proper county, preliminary to a sale of the encumbered property.

Later, appellee Jennie R. Buckley, trustor under the deed of trust, filed a petition for composition under § 75 of the Bankruptcy Act, as amended, 11 U.S.C.A. § 203 . Being unable to effect a composition, appellee petitioned to be adjudicated a bankrupt under § 75 (s), 11 U.S.C.A. § 203 (s). The order of adjudication, made December 13, 1937, embraced an order enjoining and restraining all creditors from commencing or' maintaining any judicial proceeding against the bankrupt or proceeding with any sale of the bankrupt’s property under any deed of trust, until further order of the court.

Fourteen days after the adjudication the trustee held a salé of the encumbered property, the beneficiary Clendenen, and his wife, being purchasers thereat. The referee, to whom the bankruptcy case had been referred, then issued an order directing the…