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IN RE NORTH AMERICAN LIGHT & POWER CO.

No. 9593.

170 F.2d 924 (1948)

In re NORTH AMERICAN LIGHT & POWER CO. et al.

United States Court of Appeals Third Circuit.

Decided November 5, 1948.

Attorney(s) appearing for the Case

Percival E. Jackson, of New York City (Theodore N. Tarlau and Joseph J. Bryer, both of New York City, on the brief), for appellants.

Harry G. Slater, of Washington, D. C. (Roger S. Foster, Solicitor. Sidney H. Willner, Associate Solicitor, Aaron Levy, and Joseph Auerbach, Attorneys, Securities and Exchange Commission, all of Washington, D. C., on the brief), for S. E. C.

Gray Thoron, of New York City, for North American Co.

Before McLAUGHLIN and KALODNER, Circuit Judges, and MADDEN, District Judge.

KALODNER, Circuit Judge.

The question involved is whether the Securities and Exchange Commission, "Commission", and the District Court, erred in approving as fair and equitable, pursuant to the Public Utility Holding Company Act of 1935, as amended, 15 U.S.C.A. § 79k(e), a plan submitted by the North American Company, "North American", for the liquidation of its subsidiary North American Light & Power Company, "Light & Power", without making a specific...

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