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IN RE GEORGIAN HOTEL CORPORATION

No. 5577.

82 F.2d 917 (1936)

In re GEORGIAN HOTEL CORPORATION. ALLEN et al. v. GEORGIAN HOTEL CORPORATION et al.

Circuit Court of Appeals, Seventh Circuit.

March 31, 1936.

Attorney(s) appearing for the Case

Meyer Abrams, of Chicago, Ill., for appellants.

George M. Burditt and Julian H. Levi, both of Chicago, Ill., for appellee debtor corporation.

Arthur M. Cox, Claude A. Roth, Bernard Nath, and Isaac E. Ferguson, all of Chicago, Ill., for appellee bondholders committee.

Before SPARKS, ALSCHULER, and PAGE, Circuit Judges.

ALSCHULER, Circuit Judge.

The appeal is from an order of the District Court confirming a plan for the debtor's reorganization under section 77B of the Bankruptcy Act (11 U.S.C.A. § 207).

In 1925 the debtor gave its mortgage upon its hotel property to secure its bond issues of $1,400,000, of which $1,300,000 were first lien bonds and $100,000 second lien; the first now reduced to $1,255,000, and the second to $39,500. Appellants own $18,500 of the first...

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