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IN RE BOSTON & PROVIDENCE RAILROAD CORPORATION

No. 74-1159.

501 F.2d 545 (1974)

In re BOSTON & PROVIDENCE RAILROAD CORPORATION. In re BOSTON & PROVIDENCE RAILROAD DEVELOPMENT GROUP, et al., Appellants.

United States Court of Appeals, First Circuit.

Decided July 17, 1974.

Attorney(s) appearing for the Case

Charles R. Nesson, Cambridge, Mass., with whom Harvey A. Silverglate, Thomas G. Shapiro, and Silverglate, Shapiro & Gertner, Boston, Mass., were on memorandum, for appellants.

Arthur P. Schmidt, Boston, Mass., with whom Gaston, Snow & Ely Bartlett, Boston, Mass., was on memorandum for National Shawmut Bank of Boston, Charge Trustee, appellee.

Alan L. Lefkowitz, Boston, Mass., John L. Davidson, Jr., and Greenfield, Davidson & Mandelstamm, St. Louis, Mo., on memorandum for Dumaines, appellee.

Before COFFIN, Chief Judge, McENTEE and CAMPBELL, Circuit Judges.

COFFIN, Chief Judge.

Appellant seeks to prevent the distribution of funds held by the National Shawmut Bank as Charge Trustee, under an Indenture executed pursuant to the plan of reorganization (Plan) for the Boston and Providence Railway Corporation (B&P). The Indenture imposed upon all B&P real estate an equitable charge for the benefit of holders of Certificates of Contingent Beneficiary Interest (CCBI's), issued pursuant to the Plan. By preventing the...

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