SOUTHERN N. Y., RY., INC. v. FORT DODGE, ETC.

No. 65210.

316 N.W.2d 840 (1982)

SOUTHERN NEW YORK RAILWAY, INC., et al., Appellants, v. FORT DODGE, DES MOINES & SOUTHERN RAILWAY COMPANY, et al., Appellees.

Supreme Court of Iowa.

March 17, 1982.


Attorney(s) appearing for the Case

D. M. Statton, Bethesda, Md., Mahoney, Jordan, Mahoney & Donelson, P.C., Boone, and Donald H. Latzer, Kalona, for appellants.

Frank W. Davis, Jr., of Gamble, Riepe, Burt, Webster & Davis, Des Moines, for railroad appellees.

Glenn L. Smith of Duncan, Jones, Riley & Finley, Des Moines, for trustee appellee.

Considered by LeGRAND, P. J., and McCORMICK, ALLBEE, McGIVERIN, and LARSON, JJ.


ALLBEE, Justice.

This is an appeal by plaintiff bondholders from a decree denying their demand that trial court declare a default of the mortgage securing their bonds, rule the bonds immediately due, remove the trustee under the mortgage and appoint a successor trustee to protect and enforce their rights as bondholders, order a foreclosure and sale of the assets of the railroad whose property and operations secure the bonds, impress a trust upon the profits of the...

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