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EWEN v. PEORIA & E. RY. CO.

34 F.Supp. 332 (1940)

EWEN et al. v. PEORIA & E. RY. CO. GILBERT et al. v. SAME.

District Court, S. D. New York.

July 8, 1940.

Attorney(s) appearing for the Case

Jacob Aronson and Crosby J. Beakes, both of New York City, for petitioner.

Charles S. Aronstam and Archie S. Karp, both of New York City, for income bondholders.

Louis G. Bernstein, Julius J. Rosenberg, Leonard B. Frutkin, and William J. Reinhart, Jr., all of New York City, for first mortgage bondholders.

Before L. HAND, Circuit Judge, and WOOLSEY and HULBERT, District Judges.

L. HAND, Circuit Judge.

The facts are sufficiently stated in the report of the Interstate Commerce Commission, 239 I.C.C. 303, 320 (March 27, 1940), passing upon the plan, and we shall accept it as the background for our discussion. The objections are chiefly because the plan disregards rights originally secured to the intervenors in the reorganization of the Ohio, Indiana & Western Railroad, a mortgage upon which was foreclosed in 1889. On the sale under the...

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