STATE OF NEW YORK v. GEBHARDT

Attorney(s) appearing for the Case

Jesse E. Waid, of New York City (White & Case, Herbert F. July, John S. DeJose, and Edward J. Kenn, all of New York City, on the brief for Bankers Trust Co.; Willkie, Owen, Otis, Farr & Gallagher and Walter H. Brown, Jr., all of New York City, on the brief for New York Trust Co.; Kaye, Scholer, Fierman & Hays and Harold L. Fierman, all of New York City, on the brief for Independent Group of Bondholders; and Elbert N. Oakes, of New York City, on the brief for Raymond L. Gebhardt and Ferdinand L. Sieghardt), for appellants.

Gerald J. Carey, Asst. Atty. Gen., of New York (Nathaniel L. Goldstein, Atty. Gen., and Orrin G. Judd, Sol. Gen., of Albany, N. Y., on the brief), for appellee.

Before L. HAND, SWAN, and CLARK, Circuit Judges.