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IN RE UNITED CORPORATION

Nos. 11627, 11645.

232 F.2d 601 (1956)

Matter of the UNITED CORPORATION. Appeal of Herbert M. DIAMOND et al., Appellants in No. 11627. Appeal of GENERAL PROTECTIVE COMMITTEE FOR THE HOLDERS OF OPTION WARRANTS OF THE UNITED CORPORATION and Alfred A. Biddle, Appellants in No. 11645.

United States Court of Appeals Third Circuit.

Decided April 16, 1956.

Attorney(s) appearing for the Case

Thomas Reath, Philadelphia, Pa. (M. Quinn Shaughnessy, Washington, D. C., John Mulford, Philadelphia, Pa., on the brief, Drinker, Biddle & Reath, Philadelphia, Pa., on the brief), for appellants General Protective Committee and others.

Carlos L. Israels, New York City (Berlack, Israels & Liberman, New York City, Lawrence Greenapple, New York City, on the brief), for appellants Diamond et al.

Richard Joyce Smith, New York City (William S. Potter, Berl, Potter & Anderson, Wilmington, Del., William T. Farley, New York City, on the brief), for appellee United Corp.

William H. Timbers, Washington, D. C. (Thomas G. Meeker, Associate General Counsel, Frederick Zazove, Special Counsel, Ellwood L. Englander, Attorney, Securities and Exchange Commission, Washington, D. C., on the brief), for Securities and Exchange Commission.

Before GOODRICH, STALEY and HASTIE, Circuit Judges.

STALEY, Circuit Judge.

These are appeals from an order of the district court for the District of Delaware enforcing certain provisions of a voluntary plan submitted by The United Corporation and approved by the Securities and Exchange Commission under Section 11(e) of the Public Utility Holding Company Act of 1935 ("Act"), 15 U.S.C.A. §§ 79 et seq., 79k(e).

We are concerned only with that phase of the district court's order which cancelled outstanding...

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