IN RE HUDSON & MANHATTAN RAILROAD COMPANY


174 F.Supp. 148 (1959)

In the Matter of HUDSON & MANHATTAN RAILROAD COMPANY, Debtor.

United States District Court S. D. New York.

April 28, 1959.


Attorney(s) appearing for the Case

McGoldrick, Dannett, Horowitz & Golub, New York City, William W. Golub, Myron S. Isaacs, Herbert D. Schwartzman, Jerome Talbert, New York City, of counsel, for trustee of debtor.

Richard V. Bandler and Kiva Berke, New York City, for Securities and Exchange Commission.

Davis, Polk, Wardwell, Sunderland & Kiendl, New York City, Thomas O. G. FitzGibbon, Merlin E. Nelson, John A. Corry, New York City, of counsel, for Guaranty Trust Co. of New York.

Alan V. Lowenstein, Newark, N. J., George H. Callahan, Ludwig T. Smith, Newark, N. J., of counsel, for protective committee for holders of first mortgage bonds.

Arthur Miller, New York City, for holders of first mortgage bonds.

Kelley, Drye, Newhall & Maginnes, New York City, Frank H. Heiss, Albert A. Eustis, New York City, of counsel, for Hanover Bank.

Harold P. Seligson and Morton E. Yohalem, New York City, for protective committee for holders of first and refunding mortgage bonds.

Aranow, Brodsky, Bohlinger, Einhorn & Dann, New York City, Edward Ross Aranow, Lloyd I. Singer, I. Robert Rozen, New York City, of counsel, for Crockett protective committee for holders of first and refunding mortgage bonds.

Harold Herzstein, New York City, for protective committee for holders of first and refunding lien bonds.

Percival E. Jackson, New York City, Theodore N. Tarlau, New York City, of counsel, for holders of first and refunding mortgage bonds.

White & Case, New York City, for Prudential Life Ins. Co. of America.

House, Grossman, Vorhaus & Hemley, New York City, Edward M. Garlock, Leonard Hemley, New York City, of counsel, for holders of first and refunding mortgage bonds.

James Kleinman, New York City, for holders of first and refunding mortgage bonds.

Paul Kern, New York City, pro se.

Sanford Solarz, New York City, pro se.

Proskauer, Rose, Goetz & Mendelsohn, New York City, Jacob Imberman, New York City, Edward D. Cohen, Washington, D. C., of counsel, for Chemical Corn Exchange Bank.

Edward Endelman, New York City, Milton M. Unger, Newark, N. J., Daniel W. Blumenthal, New York City, of counsel, for Kohn protective committee for holders of adjustment income mortgage bonds.

Louis Kipnis, New York City, for protective committee for holders of adjustment income mortgage bonds.

Moses & Singer, New York City, Arnold A. Jaffe, Lyonel E. Zunz, New York City, of counsel, for Oscar Gruss & Son, holder of adjustment income mortgage bonds.

Charles Poletti, Hoffman, Buchwald, Nadel, Cohen & Hoffman, Buchman & Buchman, New York City, Charles Poletti, Bernard Buchwald, Charles D. Hoffman, Bernard Nadel, David Geldzahler, Milton Lang, New York City, of counsel, for holders of adjustment income mortgage bonds.

Roth & Riseman, New York City, Barrett G. Kreisberg, New York City, of counsel, for holders of adjustment income mortgage bonds.

Davis & Heffner, New York City, A. N. Davis, Benjamin Heffner, New York City, of counsel, for common stockholders.

Mulholland, Robie & Hickey, Washington, D. C., and Reilly, Curry & Gibbons, New York City, William Mahoney, Washington, D. C., Francis R. Curry, New York City, of counsel, for various labor organizations.

David D. Furman, Trenton, N. J., for State of N. J. and N. J. Bd. of Public Utility Comrs.


DAWSON, District Judge.

There is before the Court for its approval, pursuant to the provisions of the Bankruptcy Act, a plan of reorganization proposed by the Trustee in Bankruptcy, which appears to have the support of representatives of all of the creditor groups. The plan has been submitted to the Securities and Exchange Commission for its advisory opinion and the Commission has, with one exception hereinafter referred to, found the plan to be feasible and fair...

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