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BANKERS TRUST CO. v. FLORIDA EAST COAST CAR FERRY CO.

No. 8387.

92 F.2d 450 (1937)

BANKERS TRUST CO. et al. v. FLORIDA EAST COAST CAR FERRY CO. et al.

Circuit Court of Appeals, Fifth Circuit.

October 18, 1937.

Attorney(s) appearing for the Case

Henry P. Adair and C. G. Ashby, both of Jacksonville, Fla., and Francis L. Casey, of New York City, for appellants.

Edw. McCarthy, Jr., J. W. Shands, E. J. L'Engle, Robert H. Anderson, and Russell L. Frink, all of Jacksonville, Fla., for appellees.

Before FOSTER, SIBLEY, and HOLMES, Circuit Judges.

SIBLEY, Circuit Judge.

The Florida East Coast Railway Company was by its consent put into receivership on Aug. 31, 1931, on allegations, not that it was insolvent, but unable to meet its maturing obligations and was losing money. On May 12, 1932, the trustees of its bond mortgage sought foreclosure and a receivership to collect the railway's income which was covered by the mortgage, and the same receivers were named and the cases were consolidated. During March, 1932...

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