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IN RE ALBERT

January 27, 1942

In re ALBERT


The opinion of the court was delivered by: CAMPBELL

CAMPBELL, District Judge.

The Referee in Bankruptcy before whom the application of the bankrupt for a discharge in bankruptcy was heard, rendered an opinion on November 25, 1940, and on the 31st day of December 1940, made an order granting the bankrupt a discharge.

The objecting creditor, feeling aggrieved thereat, on October 8, 1941, filed a petition for a review.

 This is a motion, made on behalf of the bankrupt, for an order denying the petition for review of the Brooklyn National Bank, and confirming the said order of the Referee granting the bankrupt's discharge, etc.

 The objecting creditor filed thirteen Specifications of Objection to the discharge of the bankrupt, in its amended Specifications, which in substance allege as follows:

 First. That the bankrupt failed to explain satisfactorily the deficiency in assets with respect to a store conducted by the bankrupt at 788 Bergenline Avenue, Union City, New Jersey.

 Second. That the bankrupt failed to explain satisfactorily the deficiency in assets with respect to a store conducted by the bankrupt at 440 Northampton Street, Easton, Pa.

 Third. That the bankrupt failed to explain satisfactorily the deficiency in assets with respect to a store at 281 Jackson Avenue, Jersey City, N.J.

 Fourth. A concealment on the part of the bankrupt of an interest in the capital stock of the Jay Outfitters, Inc., and Jay Wholesale Co., Inc.

 Fifth. The making of a false oath by the bankrupt to his schedules in his failure to disclose such interest in Jay Outfitters, Inc., and Jay Wholesale Co., Inc.

 Sixth. The giving of false testimony on the part of the bankrupt with respect to the ownership of the store or Third Avenue near 152nd Street, Bronx, New York.

 Seventh. The making of a false oath by the bankrupt before the Referee in connection with the business conducted by the bankrupt's wife.

 Eighth. The making of a false oath by the bankrupt on April 20, 1939, when he testified that he did not have a brokerage account since 1929, whereas, in truth and fact, he had a brokerage account with the firm of Cohen, Wachsman & Wassall, and a personal account with the Corn Exchange Bank, Pennsylvania Branch, and used the stock purchased through said brokers to collateralize a loan which he personally made.

 Ninth. The making of a false oath before the Referee when he testified that he never bought and sold merchandise himself, did not manage the salesmen at Jay Wholesale Co., Inc., gave no orders, and was not regarded as the proprietor by others.

 Tenth. Failure of the bankrupt to keep books and records with respect to the business at 788 Bergenline Avenue, Union City, New Jersey, at 281 Jackson Avenue, Jersey City, New Jersey and at Easton, Pennsylvania.

 Eleventh. The destruction or falsification by the bankrupt of his records from which his financial condition and business transactions might be ascertained, in that he used and operated the corporations, towit, the Jays' Outfitters, Inc., Jay Wholesale Co., Inc. and Jay's Outfitters, Inc., and the trade name of Jay's Wholesale Co. registered in the name of his wife, as a cloak to hide his interest in said business, and failed to keep and preserve books of account from which the business transactions conducted by him might be ascertained, and destroyed, mutilated and falsified such of the books as were kept.

 Twelfth. That the bankrupt made a false oath to his schedules in bankruptcy by stating therein that he had no property in stocks, shares, bonds or annuities, whereas he did have an interest in the stock of Jay Wholesale Co., Inc., Jays' Outfitters, Inc., and Jay's Outfitters, Inc., which shares of stock were held in the name of the bankrupt's wife, and the names of other persons to objectant unknown, in secret trust for the benefit of the bankrupt, and by saying that he had no personal property, whereas he had an interest in said stock, and assets of Jay Wholesale Co., Inc., and by stating that he had no books, deeds, or papers, whereas he had various check books, and stub check books in connection with his business in the State of New Jersey, and Easton, Pennsylvania, which he wilfully failed, and refused to produce, and had other records in connection with said business, which he either failed to produce, or wilfully destroyed.

 Thirteenth. That the bankrupt concealed his interest in a certain lease, made by the Gramercy Management Co., Inc., as landlord, and the bankrupt and one Harold Tanenbaum as tenants dated December 12, 1938, affecting premises 60-62 East 14th Street, Borough of Manhattan, City of New York, under which lease there was deposited as security the sum of $4,500.

 Each of the Specifications numbered Fifth, Sixth, Seventh, Eighth, Ninth, Twelfth and Thirteenth alleged that the bankrupt committed an offense punishable by imprisonment as provided by ...


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