Court Opinion

ID: 9641819
Source: CourtListenerOpinion
Date Created: 2023-08-22 17:40:57.695095+00
Date Added: 2024-06-11T18:10:39.991094
License: Public Domain

CLARK, Circuit Judge
(concurring).
The debtor’s petition for an arrangement was filed December 27, 1938; the conditional vendor’s petition to reclaim, early the following April. After the adverse judgment below, the debtor secured a stay, which is now in effect continued until the exact amount due the vendor is determined and the debtor has had a reasonable time to pay it. That is certainly all the grace the debtor can possibly claim; and if it cannot then take care of this obligation, it must, of course, surrender possession. But I desire to point out how this demonstrates that in practice In re Lake’s Laundry, Inc., 2 Cir., 79 F.2d 326, 102 A.L. R. 247, does not force as prompt a surrender of possession to a conditional vendor as some commentators have thought,1 and that power does exist in a reorganization court to make such stays as are not unreasonable in the light of the vendor’s legal priority. And In re Burgemeister Brewing Co., 7 Cir., 84 F.2d 388, 389, said as much. Cf. 11 U.S.C.A. §§ 516, 548, 714; Lincoln-Alliance Bank & Trust Co. v. Dye, 2 Cir., 108 F.2d 38.

 Cf. Finletter, Bankruptcy Reorganization, 150-153; Glenn, 25 Va.L.Rev. 559, 583; Brown, 14 Tenn.L.Rev. 485; 35 Col.L.Rev. 1305; 5 Fordham L.Rev. 153; 4 Geo.Wash.L.Rev. 419; 49 Harv. L.Rev. 328; 34 Mich.L.Rev. 579; 13 N. Y.U.L.Q.Rev. 279; 84 U. of Pa.L.Rev. 250.