IN RE ALLIED OWNERS' CORPORATION

No. 204.

74 F.2d 201 (1934)

In re ALLIED OWNERS' CORPORATION.

Circuit Court of Appeals, Second Circuit.

December 10, 1934.


Attorney(s) appearing for the Case

Newman & Bisco, of New York City (Hastings S. Morse, Dan Gordon Judge, and Harry Heller, all of New York City, of counsel), for appellant Manufacturers' Trust Co.

Powell & Ruch, of New York City (Clinton J. Ruch, of New York City, of counsel), for appellees Charles H. Kelby and Clifford S. Kelsey.

Robert P. Levis, of New York City, for Allied Owners' Corporation.

Goldwater & Flynn, of New York City (Monroe Goldwater and Nathan Goldstein, both of New York City, of counsel), for appellees trustees of Allied Owners' Corporation.

Chadbourne, Hunt, Jaeckel & Brown, of New York City (William T. Caldwell, of New York City, of counsel), for appellee debenture holders' committee.

Sullivan & Cromwell, of New York City (Paul W. McQuillen, of New York City, of counsel), for Ernest W. Niver and others.

Archibald Palmer, of New York City (Archibald Palmer and Harry D. Glicksman, both of New York City, of counsel), for intervening bondholders Emanuel M. Cohan, Max Lober, and Irving Kuller.

Before MANTON, L. HAND, and SWAN, Circuit Judges.


MANTON, Circuit Judge.

The debtor, Allied Owners' Corporation, began a proceeding for a reorganization under section 77B of the Bankruptcy Act (11 USCA § 207). The Manufacturers' Trust Company was named as trustee in an indenture of mortgage covering property of the Allied Owners' Corporation. Bonds of the debtor were issued and secured by this mortgage. No provision was made for the Manufacturers' Trust Company, as such trustee, to vote any of the bonds, whether...

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