IN RE REALTY ASSOCIATES SECURITIES CORPORATION

No. 45024.

54 F.Supp. 785 (1944)

In re REALTY ASSOCIATES SECURITIES CORPORATION.

District Court, E. D. New York.

January 28, 1944.


Attorney(s) appearing for the Case

Auchincloss, Alley & Duncan, of New York City (James B. Alley and Charles R. Lowther, both of New York City, of counsel), for debtor.

Halpin & Keogh, of New York City, (Eugene J. Keogh, of New York City, of counsel), for trustees.

George Zolotar and Kiva Berke, both of New York City, for Securities and Exchange Commission.

Percival E. Jackson and Theodore N. Tarlau, both of New York City, for John Vanneck, Barbara B. Vanneck, Equitable Holding Corporation and Frank Bailey.

Lewis, Marks & Kanter and Julius Silver, all of New York City (Jack L. Rappaport, of New York City, of counsel), for Bondholders' Protective Committee.

Archibald Palmer, of New York City for Anna A. Kuhlmann and Catherine Kuhlmann.

Herrick & Feinstein, of Brooklyn, N. Y. (Abraham Feinstein, of Brooklyn, N. Y., of counsel), for Bondholders' Directors' Committee.

Newman & Bisco, of New York City (David Barnett and Leo P. Cappelletti, both of New York City, of counsel), for Manufacturers Trust Co.

Harold W. Newman, Jr., of Washington, D. C., for Bondholders' Advisory Committee.

James F. Dealy, of New York City, for Amalgamated Properties, Inc.

Root, Clark, Buckner & Ballantine, of New York City (William P. Palmer, of New York City, of counsel), for Consolidated Realty Corporation.

Charles J. Buchner, of Brooklyn, N. Y., for bondholder.


MOSCOWITZ, District Judge.

The debtor filed a voluntary petition for reorganization under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq., and the Court appointed two disinterested trustees and an additional trustee under authority of Section 156 of the Act, 11 U.S.C.A., § 556. Objections have been raised to the continuance of the additional trustee in office.

Section 156 of the Bankruptcy Act provides that in a case where the liabilities...

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