TAYLOR v. STANDARD GAS CO.

No. 312.

306 U.S. 307 (1939)

TAYLOR ET AL., INDEPENDENT COMMITTEE, v. STANDARD GAS & ELECTRIC CO. ET AL.

Supreme Court of United States.

Decided February 27, 1939.


Attorney(s) appearing for the Case

Mr. Jason L. Honigman for petitioners.

Mr. Nathan A. Gibson, with whom Messrs. Wilbur J. Holleman, A. Louis Flynn, and Jacob K. Javits were on the brief, for Standard Gas & Electric Co.; Mr. James F. Oates, Jr., with whom Mr. William P. Sidley was on the brief, for the Reorganization Committee; and Mr. George S. Ramsey, with whom Mr. Villard Martin was on the brief, for Greis, Trustee, respondents. Mr. W.F. Semple submitted for Deep Rock Oil Corp., respondent.


MR. JUSTICE ROBERTS delivered the opinion of the Court.

The question presented is whether the District Court abused its discretion in approving the compromise of a claim by a parent against a subsidiary corporation and a plan of reorganization based upon the compromise, in proceedings under § 77B of the Bankruptcy Act.1 The Circuit Court of Appeals, by a divided court, approved the District...

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