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ANACONDA BUILDING MATERIALS CO. v. NEWLAND

No. 19027.

336 F.2d 625 (1964)

ANACONDA BUILDING MATERIALS CO. et al., Appellants, v. John N. NEWLAND, Trustee of the Estate of Hughes Homes, Inc., a corporation, et al., debtors, Appellees.

United States Court of Appeals Ninth Circuit.

September 21, 1964.

Attorney(s) appearing for the Case

R. Lewis Brown, Jr., Butte, Mont., for appellants.

Philip A. Loomis, Jr., General Counsel, David Ferber, Associate Gen. Counsel, Robert W. Cox, Securities and Exchange Comm., Washington, D. C., and C. J. Odenweller, Jr., Securities and Exchange Comm., San Francisco, Cal., for appellee Securities and Exchange Comm.

Joseph J. McCaffery, Jr., Butte, Mont., Henry E. Savage, Colfax, Wash., Arnold T. Beebe, Blackfoot, Idaho, H. William Furchner, Blackfoot, Idaho, for appellees Debenture Holders.

Before MADDEN, Judge of the Court of Claims, and HAMLEY and DUNIWAY, Circuit Judges.

HAMLEY, Circuit Judge:

This appeal arises in consolidated proceedings under Chapter X of the National Bankruptcy Act (Act), Act of June 22, 1938, 52 Stat. 883, as amended 11 U.S.C. § 501 et seq. (1958). The proceedings involve the proposed reorganization of Hughes Homes, Inc., an insolvent Montana corporation, and four insolvent subsidiary corporations.

Certain major trade creditors of the parent corporation indicated to the debtors' trustee that they...

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