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BANKERS TRUST COMPANY v. FREEMAN

No. 286, Docket 24437.

245 F.2d 200 (1957)

BANKERS TRUST COMPANY, Trustee, et al., Appellants, v. Lewis D. FREEMAN, Trustee of New York, Ontario and Western Railway Company, Debtor, Appellee.

United States Court of Appeals Second Circuit.

Decided June 7, 1957.

Attorney(s) appearing for the Case

White & Case, New York City (Jesse E. Waid and Herbert F. July, New York City, of counsel), for Bankers Trust Co., Trustee.

Satterlee, Browne & Cherbonnier, New York City (Mahlon Dickerson, New York City, of counsel), for Refunding Mortgage Bondholders' Protective Committee.

Nathaniel M. Sokolski, New York City, for Henry I. Cohen, a holder of Refunding Mortgage Bonds.

Willkie, Owen, Farr, Gallagher & Walton, New York City (Walter H. Brown, Jr., New York City, of counsel), for The New York Trust Co., Trustee.

Paul W. Williams, U. S. Atty., S. D. N. Y., New York City (Thomas B. Gilchrist, Jr., Chief Asst. U. S. Atty., and George M. Vetter, Jr., Asst. U.S. Atty., New York City, of counsel), for the United States.

No appearance or brief for Lewis D. Freeman, Trustee of the Debtor, appellee.

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

PER CURIAM.

This is an appeal by secured creditors of this insolvent railroad system from an order holding that claims of creditors should be classified and priorities determined. These proceedings for the reorganization of the system have been pending for twenty years in the hope, which has proved more and more vain as time has passed, that the railroad might be saved. So the United States — an interested creditor for tax claims of around seven and a half...

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