Mason v. El Dorado Irr. Dist.

This is an appeal by a bondholder-creditor from the final decree of the district court sitting in bankruptcy.

El Dorado Irrigation District sought relief under the composition provisions of the Bankruptcy Act, 11 U.S.C.A. § 401 et seq., a plan was submitted and approved, and the interlocutory decree was issued and entered. Mason appealing here was one of the appellants in Thomas et al. v. El Dorado Irr. Dist., 9 Cir., 126 F.2d 922 , which was an appeal from the interlocutory decree entered in this identical bankruptcy or composition proceeding. The opinion appearing at the given citation is hereby referred to for facts and citations pertinent to this appeal.

*190 Appellant argues four propositions, which we shall treat in the order of their presentation in his opening brief.

First Proposition. After entry of the interlocutory decree and before entry of the final decree the District bonds excepting those held by certain persons, including appellant, who have not consented to the composition, were surrendered and cancelled as provided for in the plan. It is argued that the composition plan had not been completed, the final decree not having been granted or entered, and that…