IN RE STUDEBAKER CORPORATION

No. 1143-B.

9 F.Supp. 426 (1935)

In re STUDEBAKER CORPORATION.

District Court, N. D. Indiana, South Bend Division.

January 28, 1935.


Attorney(s) appearing for the Case

John F. Cotter, of South Bend, Ind., for Studebaker Corp. et al.

M. B. & H. H. Johnson, of Cleveland, Ohio, for petitioners John A. Kling et al.

Winston, Strawn & Shaw, of Chicago, Ill., for trustees.

Winthrop, Stimson, Putnam & Roberts, of New York City, for Common Stockholders' Protective Committee for the Common Stock of the Debtor.

William S. Culbertson, of Washington, D. C., for Preferred Stockholders' Committee.

Tolles, Hogsett & Ginn, of Cleveland, Ohio, for Studebaker Creditors' Protective Committee.

Milbank, Tweed, Hope & Webb, of New York City, for Studebaker Reorganization Committee, and Bank Creditors' Committee.

Snyder, Thomsen, Seagrave & Roudebush, of Cleveland, Ohio, for Independent Preferred Stockholders' Committee.

Schein & Beckwith, of Chicago, Ill., for Common Stockholders' Protective Committee.

Cravath, deGersdorff, Swaine & Wood, of New York City, for Underwriters.


SLICK, District Judge.

The principal questions for decision are insolvency and the fairness of the reorganization plan submitted. The Bankruptcy Act, of which the law under which we are acting in the case at bar is an amendment (section 77B [11 USCA § 207]), provides: "A person shall be deemed insolvent * * * whenever the aggregate of his property * * * shall not, at a fair valuation, be sufficient in amount to pay his debts." Section 1 (15), 11 USCA § 1...

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