AUSTRIAN v. WILLIAMS

No. 237, Docket 22314.

198 F.2d 697 (1952)

AUSTRIAN et al. v. WILLIAMS et al.

United States Court of Appeals Second Circuit.

Decided August 15, 1952.


Attorney(s) appearing for the Case

Sullivan & Cromwell and Milton Pollack, New York City, for defendant-appellant, Harrison Williams, Milton Pollack, Arthur H. Dean, Henry N. Ess, III, New York City, of counsel.

Austrian & Lance, New York City, for plaintiffs as trustees, Carl J. Austrian, Saul J. Lance, George H. Schwartz, Isadore H. Cohen, New York City, of counsel.

Roger S. Foster, Gen. Counsel, Aaron Levy, Washington, D. C., Atty. for Securities and Exchange Commission, amicus curiae.

Before SWAN, Chief Judge, and CHASE and CLARK, Circuit Judges.


CHASE, Circuit Judge.

Central States Electric Corporation, organized under the laws of Virginia in 1912 and hereafter to be called Central, was in business as an investment company having its principal office at Richmond, Virginia until, on February 23, 1942, it filed a petition for reorganization under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq., in the District Court for the Eastern District of Virginia. The petition was approved on February...

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