WESTERN PACIFIC RAILROAD CORP. v. WESTERN PACIFIC RAILROAD CO.

No. 150.

345 U.S. 247 (1953)

WESTERN PACIFIC RAILROAD CORP. ET AL. v. WESTERN PACIFIC RAILROAD CO. ET AL.

Supreme Court of United States.

Decided April 6, 1953.


Attorney(s) appearing for the Case

Herman Phleger argued the cause for petitioners in No. 150. With him on the brief were Moses Lasky, Frank C. Nicodemus, Jr. and Norris Darrell.

Julius Levy argued the cause for petitioners in No. 160. With him on the brief were William E. Haudek and Webster V. Clark.

Allan P. Matthew argued the cause for respondents. On the brief were Mr. Matthew, James D. Adams, Robert L. Lipman, Burnham Enersen and Walker W. Lowry for the Western Pacific Railroad Co. et al., and Everett A. Mathews, A. Donald MacKinnon and Forbes D. Shaw for the Western Realty Co., respondents.


MR. CHIEF JUSTICE VINSON delivered the opinion of the Court.

The petitioners in these causes—a corporation and some of its stockholders—seek an accounting from respondents —certain other corporations which, prior to a reorganization in 1943, were subsidiaries of the petitioning corporation. It is petitioners' theory that respondents had unjustly enriched themselves by wrongfully appropriating a "tax loss" incurred by petitioner Western Pacific...

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