343 F.2d 726
In the Matter of IRA HAUPT & CO., a Limited Partnership, Bankrupt.Bernard KLEBANOW, George Lewis, Michael Sloan and Harold L.Marantz, KennethAlan Marantz and Edith LeeMarantz, as Executors of the Estate ofCharlesMarantz, and Lazarus S.Heyman, Appellants,v.The CHASE MANHATTAN BANK and Manufacturers Hanover TrustCompany, Appellees.
No. 312, Docket 29310.
United States Court of Appeals Second Circuit.
Argued Jan. 26, 1965.Decided April 6, 1965.

Max Freund, New York City (Rosenman, Colin, Kaye, Petschek & Freund, New York City, on the brief), for appellants Klebanow, Lewis, Sloan and Marantz.
Abraham M. Glickman, New York City, for appellant Heyman.
William E. Jackson, New York City (Francis H. Husselman, Samuel R. Ballin, Arthur W. Rashap and Milbank, Tweed, Hadley & McCloy, New York City, on the brief), for appellee Chase Manhattan Bank.
Henry Landau, New York City (Horace J.McAfee and Simpson, Thacher & Bartlett, New York City, on the brief), for appellee Manufacturers Hanover Trust Co.
Leonard Zalkin, New York City (Zalkin & Cohen, New York City, on the brief), for First National City Bank and Morgan Guaranty Trust Co.
Before WATERMAN, SMITH and ANDERSON, Circuit Judges.
J. JOSEPH SMITH, Circuit Judge:


1
On March 23, 1964, Klebanow, Lewis, and Sloan, three of the limited partners of Ira Haupt & Co., a New York Stock Exchange member firm, filed an involuntary petition in bankruptcy against Ira Haupt & Co.  A week later, on March 30, the six general partners of Haupt filed a petition for an arrangement under Chapter XI of the Bankruptcy Act, alleging that they represented the concern.  After hearings on the desirability of a Chapter XI