Cohan
Cohan v. Elder
Opinion
Lead Opinion
Denman, J.
Appellant, a creditor of appellees, petitioners under § 75, subs, a-r, of the Bankruptcy Act, 11 U.S.C.A. § 203 , subs, a-r, for a loan to appellees secured by a trust deed of appellees’ citrus orchards,’ appeals from a decree of the district court of September 28, 1939. The decree modified and amended an extension plan of appellees and denied motions of appellant to dismiss the proceedings and to dissolve an order restraining a sale under the trust deed securing appellant’s loan.
A modified extension plan which was confirmed May 24, 1938, provided the court was to retain jurisdiction until. September 27, 1940, over the administration of appellees’ properties or until the terms of the proposed plan had been carried out. Under the terms of the plan the appellees were to pay on account of the principal of appellant’s loan $1,647 on March 27, 1939, and $2,000 on September 27, 1939. Payment was not made of the first installment and on March 31, 1939, appellant filed his motions to set aside the confirmation of the amended plan of composition, to dismiss the petition and to dissolve the restraining order.