NATIONAL CITY BANK OF NEW YORK v. O'CONNELL

No. 268.

155 F.2d 329 (1946)

NATIONAL CITY BANK OF NEW YORK v. O'CONNELL et al.

Circuit Court of Appeals, Second Circuit.

May 2, 1946.


Attorney(s) appearing for the Case

Barney B. Fensterstock, of New York City (Zalkin & Cohen, Israel Akselrod, and Harry Zalkin, all of New York City, on the brief), for appellant.

Monroe Goldwater, of New York City (Goldwater & Flynn, Harry Rodwin, and George Kossoy, all of New York City, on the brief), for appellee James J. O'Connell.

Maurice Finkelstein, of New York City (Wagner, Quillinan, Wagner & Tennant, of New York City, on the brief), for appellee United States Realty & Improvement Company Debenture Holders' Protective Committee.

Ralph Montgomery Arkush, of New York City, for appellee Trinity Buildings Corporation of New York First Mortgage Bondholders' Committee.

Scribner & Miller, of New York City, for appellees C. Shelby Carter, Clermont Cartwright, Stanley M. Isaacs, and Edward W. Smith.

George Zolotar, Atty., Securities and Exchange Commission, of New York City (Roger S. Foster, Sol., and Robert S. Rubin, Asst. Sol., both of Philadelphia, Pa., and Ezra Weiss, Atty., Securities and Exchange Commission, of New York City, on the brief), for appellee Securities and Exchange Commission.

Before SWAN, CLARK, and WOODBURY, Circuit Judges.


CLARK, Circuit Judge.

This is an appeal by the National City Bank of New York, a secured creditor of United States Realty & Improvement Company, from two orders, one approving and the other confirming a plan of reorganization for that company and its wholly owned subsidiary, Trinity Buildings Corporation of New York. The only issue is whether or not the treatment given the Bank by the plan constituted either cash payment or equitable and fair protection of its...

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