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

No. 83 Civ. 8723 (DNE).

602 F.Supp. 942 (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.

February 5, 1985.

Attorney(s) appearing for the Case

Carter, Ledyard & Milburn, Louis L. Stanton, New York City, of counsel, for plaintiff United States Trust Company of New York.

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

Shearman & Sterling, Robert Hausen, New York City, of counsel, for plaintiff Sharon Steel Corporation.

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

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

Davis Polk & Wardwell, Philip C. Potter, Jr. and Thomas J. Aquilino, Jr., New York City, of counsel, for defendant Butcher & Co. and the 5 3/8 % Selling Class.

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

Fine & Ambrogne, Michael B. Roitman, Boston, Mass., of counsel, for defendant Nest & Co.

MEMORANDUM OPINION AND ORDER

EDELSTEIN, District Judge:

This motion involves a determination of the propriety of awarding attorneys' fees to the representatives of the losing classes in an interpleader class action. The interpleader class action was brought by the trustees and issuer of bonds under two indentures for the determination of the rights of the bondholders to certain interest payments. The facts giving rise to the interpleader action are set forth...

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