District Court, E.D. Michigan December 28, 1965, No. 63-2609-H (In re Petosky Asphalt Paving Co.)

KAESS, District Judge.

On September 30, 1963, Petosky Asphalt Paving Company petitioned for an arrangement under Chapter XI of the Bankruptcy Act,1 and on January 6, 1964, consented to be adjudged a bankrupt. In its Statement of Affairs, filed on. January 14, 1964, bankrupt stated, in item 11a, that the bankrupt had “transferred Cash to Thomas L.