District Court, S.D. Alabama June 24, 1960, Civ. A. 1507 (Pennington v. Leff)

DANIEL HOLCOMBE THOMAS, District Judge.

On June 25, 1953, Loop Television Company, a corporation, filed in this Court its voluntary petition in bankruptcy, and in due course was adjudicated a bankrupt.

The Trustee in Bankruptcy, seeking recovery of alleged voidable preferences from the First National Bank of Mobile, Alabama, and its guarantors, Gerald L. Leff and H.