Wright v. Union Central Life Ins. Co.,
Annotate this Case
311 U.S. 273 (1940)
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U.S. Supreme Court
Wright v. Union Central Life Ins. Co., 311 U.S. 273 (1940)
Wright v. Union Central Life Insurance Co.
Argued November 20, 22, 1940
Decided December 9, 1940
311 U.S. 273
CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SEVENTH CIRCUIT
1. Under § 75(s)(3) of the Bankruptcy Act, the debtor, upon his request, must be afforded an opportunity to redeem the property at its current value (as reappraised, or as fixed by the court after hearing, pursuant to provisions of the section), before the property may be ordered sold at public sale. P. 311 U. S. 277.
2. The debtor's right, upon request, to redeem pursuant to the procedure prescribed in the first proviso of § 75(s)(3) cannot be defeated by the request of a secured creditor for a public sale under the second proviso. P. 311 U. S. 279.
3. The power of the bankruptcy court under § 75(s)(3) to appoint a trustee and order a sale or other disposition of the property if the debtor