NEWMAN & BISCO v. REALTY ASSOCIATES SECURITIES CORP.

No. 177, Docket 21230.

173 F.2d 609 (1949)

NEWMAN & BISCO et al. v. REALTY ASSOCIATES SECURITIES CORPORATION et al.

United States Court of Appeals Second Circuit.

On Rehearing April 8, 1949.


Attorney(s) appearing for the Case

William P. Palmer, of New York City (Root, Ballantine, Harlan, Bushby & Palmer, of New York City, on the brief for appellant Consolidated Realty Corp., and Hooker, Alley & Duncan and James B. Alley, all of New York City, on the brief for appellant Realty Associates Securities Corp.), for appellants.

David Barnett, of New York City (Newman & Bisco, of New York City, on the brief), for Manufacturers Trust Co., as indenture trustee, and pro se.

Bernard D. Cahn, of New York City (Lewis, Marks & Kanter, of Brooklyn, N. Y., and Julius Silver, of New York City, on the brief), for appellees Bondholders' Protective Committee and Lewis, Marks & Kanter and Julius Silver.

Percival E. Jackson, of New York City (Theodore N. Tarlau, of New York City, on the brief), for appellee Percival E. Jackson, pro se.

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


CLARK, Circuit Judge.

On petition of a debtor in reorganization and its sole stockholder pursuant to Bankruptcy Act, § 250, 11 U.S.C.A. § 650, we agreed to review these allowances to representatives of various creditors in order that we might examine both the legality and the reasonableness of the awards made. The proceeding in reorganization was unique in that after about a year and a half it was dismissed, save for the settlement of certain reserved questions...

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