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CAPLIN v. MARINE MIDLAND GRACE TRUST CO.

No. 70-220.

406 U.S. 416 (1972)

CAPLIN, TRUSTEE v. MARINE MIDLAND GRACE TRUST CO. OF NEW YORK.

Supreme Court of United States.

Decided May 22, 1972.

Attorney(s) appearing for the Case

Charles H. Miller argued the cause for petitioner. With him on the briefs were Mortimer M. Caplin, pro se, Henry Winestine, and Leon E. Irish.

John W. Dickey argued the cause and filed a brief for respondent.

David Ferber argued the cause for the Securities and Exchange Commission urging reversal. With him on the briefs were Solicitor General Griswold, Samuel Huntington, G. Bradford Cook, and Paul Gonson.

MR. JUSTICE MARSHALL delivered the opinion of the Court.

The sole issue in this case is whether petitioner, the trustee in reorganization of Webb & Knapp, Inc., has standing under Chapter X of the Bankruptcy Act, 52 Stat. 883, 11 U. S. C. § 501 et seq., to assert, on behalf of persons holding debentures issued by Webb & Knapp, claims of misconduct by an indenture trustee. The United States District Court for the Southern District

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