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AUSTRIAN v. WILLIAMS

No. 214, Docket No. 22951.

216 F.2d 278 (1954)

Carl J. AUSTRIAN and Robert G. Butcher, as Trustees of Central States Electric Corporation, Plaintiffs-Appellants-Appellees, v. Harrison WILLIAMS, et al., Defendants, James F. Fogarty, Herbert C. Freeman and Harry J. Pasternak, as Executor of the Estate of Ralph Jonas, Deceased, Defendants-Appellees-Appellants, Christian A. Johnson, David C. McCornack, John H. Eccles and Hugh B. Baker, Defendants-Appellees.

United States Court of Appeals Second Circuit.

Decided May 17, 1954.

Reargued October 7, 1954.

Decided October 19, 1954.

Attorney(s) appearing for the Case

Austrian & Lance, New York City (Carl J. Austrian, Saul J. Lance and Maurice Rosenberg, New York City, of counsel), for plaintiffs-appellants-appellees.

LeBoeuf, Lamb & Leiby, New York City (Horace R. Lamb, New York City, Alfred E. Froh, New York City, of counsel), for defendants-appellees-appellants James F. Fogarty and Herbert C. Freeman.

Markle & Pasternak, New York City (Harry J. Pasternak and Jack H. Fox, New York City, of counsel), for defendant-appellee-appellant Harry J. Pasternak, as executor of the estate of Ralph Jonas, deceased.

Murray D. Welch, New York City (Murray D. Welch and David C. Welch, New York City, of counsel), for defendants-appellees Christian A. Johnson, David G. McCornack and John H. Eccles.

McGuigan & Kilcullen, New York City (E. Gayle McGuigan and Richard Kilcullen, New York City, of counsel), for defendant-appellee Hugh B. Baker.

William H. Timbers, David Ferber and Frederick P. Pickard, Washington, D. C., for Securities and Exchange Commission, amicus curiae.

Before CLARK, HINCKS and HARLAN, Circuit Judges.

HARLAN, Circuit Judge.

These appeals are another chapter in a protracted series of litigations growing out of proceedings for the reorganization of Central States Electric Corporation, a Virginia corporation, which were initiated by the filing of a petition under Chapter X of the Bankruptcy Act, 11 U.S.C. § 501 et seq., 11 U.S.C.A. § 501 et seq., in the United States District Court for the Eastern District of Virginia on February 23, 1942, and approved by...

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