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SECURITIES AND EXCHANGE COM'N v. S & P NATIONAL CORP.

No. 66 Civ. 512.

273 F.Supp. 863 (1967)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. S & P NATIONAL CORPORATION, Smith-Palmer Corporation, Southwest International Corporation, David M. Milton and Ralph E. Still, Defendants.

United States District Court S. D. New York.

September 12, 1967.

Attorney(s) appearing for the Case

Richard V. Bandler and Marvin E. Jacob, New York City, for S.E.C.

Leslie Kirsch, New York City, trustee.

Cleary, Gottlieb, Steen & Hamilton, New York City, Edmund H. Kerr, Alan Appelbaum and George Weisz, New York City, of counsel, for trustee.

Shea, Gallop, Climenko & Gould, New York City, Martin I. Shelton, New York City, of counsel, for corporate defendants.

Orans, Elsen & Polstein, New York City, Sheldon H. Elsen and Lewis Shapiro, New York City, of counsel, for principal creditors of S & P National Corp.

A. Logan Langwith, New York City, for Sterling Precision Corporation.

OPINION

THOMAS F. MURPHY, District Judge.

I

The case is now before the court upon an application for judicial approval of a Plan of Settlement and Reorganization ("the Plan"), and for an order that it be consummated. The Plan is intended to resolve the welter of issues between the plaintiff Securities and Exchange Commission ("the Commission"), the corporate defendants ("S & P", "Smith-Palmer" and "Southwest"), and the individual defendants...

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