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IN RE HUNTINGDON & BROAD TOP MT. R. R. & COAL CO.

No. 11275.

213 F.2d 411 (1954)

In re HUNTINGDON & BROAD TOP MOUNTAIN R. R. & COAL CO. et al.

United States Court of Appeals, Third Circuit.

Decided May 28, 1954.

Attorney(s) appearing for the Case

Albert D. Brandon, Pittsburgh, Pa. (Oliver, Brandon & Shearer, on the brief), for appellants.

R. Lester Moore, Philadelphia, Pa., as amicus curiae.

Gilbert W. Oswald, Philadelphia, Pa., for Bondholders' Protective Committee.

J. Wesley McWilliams, Philadelphia, Pa., for appellee.

Before BIGGS, Chief Judge, and MARIS and STALEY, Circuit Judges.

BIGGS, Chief Judge.

Proceedings for the reorganization of The Huntingdon and Broad Top Mountain Railroad and Coal Company were instituted in the court below in April 1949 pursuant to Section 77 of the Bankruptcy Act, as amended, Section 205, Title 11, U.S.C.A. The railroad had been in great financial difficulties for many years prior to the Section 77 proceeding. No interest has been paid since 1931 on the Railroad's Consolidated Mortgage Bonds, secured by a first...

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