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U.S. TRUST CO. OF N.Y. v. EXECUTIVE LIFE INS.

No. 83 Civ. 8723 (DNE).

607 F.Supp. 504 (1985)

UNITED STATES TRUST COMPANY OF NEW YORK, as Trustee, The Chase Manhattan Bank, N.A., as Trustee, Sharon Steel Corporation, Inc., UV Industries, Inc. Liquidating Trust, and David Finkelstein, Arthur R. Gralla, Paul Kolton, Theodore W. Kheel, Edwin Jacobson and Martin Horowitz, as Trustees of the UV Industries, Inc. Liquidating Trust, Plaintiffs, v. EXECUTIVE LIFE INSURANCE CO., Occi & Co., Staniels & Co., Nest & Co., Agway Insurance Company and First Missouri Bank & Trust Co., on Behalf of themselves and as representatives of a class of former Holders of 9¼% Senior Subordinated Notes Due April 15, 1987, Mimi Shapiro, Mortimer A. Shapiro, Pacific & Co., Cede & Co. and North Star Oil Company, on Behalf of themselves and as representatives of a class of Holders of 9¼% Senior Subordinated Notes Due April 15, 1987, Butcher & Co., William W. Humphrey, Trustee, and Louis H. Spiner, Trustee, on Behalf of themselves and as representatives of a class of former Holders of 5 3/8 % Subordinated Debentures Due November 15, 1995, and Bear Stearns & Co., Cede & Co., Julian S. Goldberg, Mericka & Co., Mutual Shares Corp. and Mutual Qualified Income Fund, Saxon & Co., on Behalf of themselves and as representatives of a class of Holders of 5 3/8 % Subordinated Debentures Due November 15, 1995, Defendants.

United States District Court, S.D. New York.

April 18, 1985.

Attorney(s) appearing for the Case

Carter, Ledyard & Milburn, New York City (Louis L. Stanton, New York City, of counsel), for plaintiff U.S. Trust Co. of New York.

Dewey, Ballantine, Bushby, Palmer & Wood, New York City (John F. Collins, New York City, of counsel), for plaintiff Chase Manhattan Bank, N.A.

Donovan Leisure Newton & Irvine, New York City (David S. Versfelt, New York City, of counsel), for defendant Bear Stearns & Co.

Tenzer, Greenblatt, Fallon & Kaplan, New York City (William Klein, II, P.C., New York City, of counsel), for defendants Mutual Shares Corp. and Mutual Qualified Income Fund.

Crystal & Driscoll, P.C., New York City (Stephen L. Crystal, New York City, of counsel), for defendants Mimi Shapiro and Mortimer A. Shapiro.

MEMORANDUM OPINION AND ORDER

EDELSTEIN, District Judge:

This opinion involves a determination of reasonable attorneys' fees to the representatives of the prevailing classes in an interpleader class action.

This class action was brought by the trustees and issuer of bonds under two indentures for the determination of the bondholders' rights to certain interest payments. The facts giving rise to the interpleader action are set forth in this court's...

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