IN RE WATCO CORPORATION

No. 6365.

95 F.2d 245 (1938)

In re WATCO CORPORATION. FRYER et al. v. WATCO CORPORATION et al.

Circuit Court of Appeals, Seventh Circuit.

February 4, 1938.


Attorney(s) appearing for the Case

B. F. Saltzstein and Irving A. Puchner, both of Milwaukee, Wis., for appellants.

James E. Coleman and John S. Barry, both of Milwaukee, Wis., for appellee Watco Corporation.

Martin R. Paulsen, of Milwaukee, Wis., for appellees bondholders.

Before EVANS and MAJOR, Circuit Judges, and LINDLEY, District Judge.


EVANS, Circuit Judge.

This appeal is from a decree in a section 77B, Bankr.Act, 11 U.S.C.A. § 207, proceeding which denied appellants the right to participate in the reorganization proceedings as bondholders, disallowed their claims, and extinguished the bonds upon which their claims were based. Appellants had issued or guaranteed the bonds in question, but acquired them after they had been relieved of their liability by discharges in bankruptcy and after accelerated...

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