Lloyd v. Webster Apartments Co.

McAllister, circuit judge.

From an order of the district court, confirming a plan of corporate reorganization, Theresa B. Lloyd appeals. A brief review of the reorganization proceedings is necessary for an understanding of the controversy.

On May 4, 1935, a petition of Webster Apartments Company, for reorganization under Sec. 77B of the Bankruptcy Act, 11 U.S.C.A. § 207, was filed and approved. More than a year later, on May 26, 1936, the debtor and the Bondholders’ Committee joined in proposing a reorganization plan in which, apparently, stock was to be issued to bondholders and stockholders,…