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IN RE INDIANA FLOORING CO.

53 F.2d 263 (1931)

In re INDIANA FLOORING CO.

District Court, S. D. New York.

February 25, 1931.

Attorney(s) appearing for the Case

Delafield, Thorne, Burleigh & Marsh, of New York City (George H. Porter, of New York City, of counsel), for petitioners.

Beekman, Bogue & Clark, of New York City (Edward K. Hanlon, of New York City, of counsel), for bondholders' committee.

McManus, Ernst & Ernst, of New York City (Irving L. Ernst and Lester D. Melzer, both of New York City, of counsel), for trustee in bankruptcy.

BONDY, District Judge.

The indenture contains the following among other provisions, all of which the trustees strenuously contend gave them the right to file proof of claim against the bankrupt on behalf of all bondholders:

In case of any default specified in the indenture, the trustee in its discretion, and upon request in writing by the holders of a majority in amount of the bonds, shall declare the principal of all the bonds to be forthwith due and payable...

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