IN RE YALE EXPRESS SYSTEM, INC.

No. 315, Docket 30199.

362 F.2d 111 (1966)

In the Matter of YALE EXPRESS SYSTEM, INC., Debtor. BOSTON INSURANCE COMPANY, Appellant, v. F. Ralph NOGG, Trustee, et al., Appellees.

United States Court of Appeals Second Circuit.

Decided May 31, 1966.


Attorney(s) appearing for the Case

Solomon M. Cheser, New York City (Tell, Cheser, Werner & Breitbart, Benjamin L. Tell, New York City), for appellant, Boston Ins. Co.

William R. Glendon, New York City (Royall, Koegel & Rogers, David W. Bernstein, New York City, of counsel), for appellee, F. Ralph Nogg, trustee in reorganization of Yale Express System, Inc. and subsidiaries.

Richard V. Bandler, Asst. Regional Adm., Philip A. Loomis, Jr., Gen. Counsel, David Ferber, Sol., Martin D. Newman, Atty., Washington, D. C., Sidney Lapidus, Atty., New York City, for appellee, Securities and Exchange Commission.

John M. Friedman, New York City, for appellee, Empire Trust Co.

Before FRIENDLY and HAYS, Circuit Judges, and CLARIE, District Judge.


FRIENDLY, Circuit Judge:

This appeal from an order of Judge Tyler in the Chapter X proceedings of Yale Express System, Inc., in the Southern District of New York, raises interesting questions of the rights of a surety in bankruptcy, some of which are only dimly illumined by the case law.

The debtor Yale Express, a motor carrier certificated under the Interstate Commerce Act, was insured by Boston Insurance Company against liability for loss or damage to cargo...

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