GUARANTY TRUST CO. v. HENWOOD

No. 384.

307 U.S. 247 (1939)

GUARANTY TRUST CO., TRUSTEE, v. HENWOOD, TRUSTEE, ET AL.

Supreme Court of United States.

Decided May 22, 1939.


Attorney(s) appearing for the Case

Mr. John W. Davis on the reargument, and with Mr. Ralph M. Carson on the original argument, for petitioner in No. 384. Messrs. Edwin S.S. Sunderland, Malcolm Fooshee, and J. Paschall Davis were with them on the briefs.

Messrs. A.H. Kiskaddon and Carleton S. Hadley for Henwood, Trustee, and Mr. George L. Buland, with whom Mr. Ben C. Dey was on the brief, for the Southern Pacific Co., respondents in No. 384, — on the reargument and the original argument.

Mr. Alfred H. Phillips, on the reargument and on the original argument, for petitioner in No. 495.

Mr. Carleton S. Hadley, with whom Mr. A.H. Kiskaddon was on the briefs, on the reargument and on the original argument, for respondents in No. 495.

By leave of Court, briefs of amici curiae were filed by Solicitor General Jackson, Messrs. Paul A. Freund, Edward H. Foley, Jr., Bernard Bernstein, John W. Pehle, and Joseph B. Friedman, on behalf of the United States, urging applicability of the Joint Resolution to the obligations involved; and by Messrs. Harry Hoffman and Clifford R. Schuman, on behalf of Anglo-Continentale Treuhand, A.G., et al., bondholders.


MR. JUSTICE BLACK delivered the opinion of the Court.

In the bankruptcy reorganization of the St. Louis Southwestern Railway Company, a Missouri Corporation, petitioners filed claims for bondholders. They asserted a right under the bonds to be paid in Dutch guilders, and asked that their claims — based upon guilder value — be allowed for $37,335,525.12. The trustee in bankruptcy contended, and the courts below held that the Joint Resolution of June 5...

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