SOUTHERN RAILWAY COMPANY, etc., et al., Appellants,
v.
Seaborn J. FLOURNOY, Trustee, Appellee.
In the Matter of The ATLANTIC AND DANVILLE RAILWAY COMPANY, Debtor. In Proceedings for the Reorganization of a Railroad.
United States Court of Appeals Fourth Circuit.https://leagle.com/images/logo.png
Argued October 23, 1961.
Decided March 26, 1962.
Attorney(s) appearing for the Case
W. R. C. Cocke, Norfolk, Va., and Thomas B. Gay, Richmond, Va., for Southern Ry. Co.
Russell T. Bradford, Norfolk, Va. (Denny, Valentine & Davenport, Richmond, Va., and Bradford & Guerry, Norfolk, Va., on brief), for Atlantic Coast Line R. R. Co. and Louisville and N.R. R. Co.
T. Howard Spainhour, Norfolk, Va., for Texaco, Inc.
Toy D. Savage, Jr., Norfolk, Va. (Thomas H. Willcox, Jr., and James Mann, Jr., Norfolk, Va., on brief), for National Bank of Commerce of Norfolk and Seaboard Citizens National Bank of Norfolk.
Thomas R. McNamara, Norfolk, Va. (Williams, Cocke, Worrell & Kelly, Norfolk, Va., and Jos. L. Kelly, Jr., Norfolk, Va., on brief), for Norfolk and W. Ry. Co. and Pennsylvania Railroad Co.
David M. Palley, New York City (L. S. Parsons, Jr., Norfolk, Va., on brief), for William Abrams, First Mortgage Bondholders and others similarly situated.
Before SOPER, BOREMAN and BRYAN, Circuit Judges.
United States Court of Appeals Fourth Circuit.
ALBERT V. BRYAN, Circuit Judge.
Underlying mortgages of The Atlantic & Danville Railway Company — debtor in this reorganization proceeding* — on the one hand, and unsecured accounts with other railroads and a fuel supplier, on the other hand, here vie for primacy of claim upon A. & D.'s mortgaged properties.
Resolution of the contentions is required to evaluate the possibility of reorganization. As the assets...
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