Kansas City Southern Railway Co. v. Guardian Trust Co.
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE EIGHTH CIRCUIT. The facts, which involve the validity of á scheme of reorganization adopted upon the foreclosure of a railroad company and a purchase of the same which provided for the stockholders but left its unsecured creditors inadequately provided for, are stated in the opinion.
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APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE EIGHTH CIRCUIT. The facts, which involve the validity of á scheme of reorganization adopted upon the foreclosure of a railroad company and a purchase of the same which provided for the stockholders but left its unsecured creditors inadequately provided for, are stated in the opinion. The plan of reorganization is binding upon the Trust Company because it actively participated in the plan and greatly benefited by it in the exchange of its own securities in the old companies for those of the Southern Company. Equity will not permit the Trust…
1Opinion of the CourtJustice Holmes
This is an appeal from a decree in which the Circuit Court of Appeals decided that the Guardian Trust Company as an. unsecured creditor of the Kansas City Suburban Belt Railroad Company was entitled to charge the appellant for the Belt Company’s debt, because the reorganization scheme, adopted upon a foreclosure of a mortgage of the Belt Company’s property and a purchase by the appellant, left the unsecured creditors inadequately provided for while it made a considerable provision for the stockholders in the Belt Road. Guardian Trust v. Cambria Steel, 201 Fed. Rep. 811; 120 C. C. A. 121. 210…
2Cases cited5 opinions
- Northern Pacific Railway Co. v. BoydSupreme Court of the United States · 1913
- Cooke v. AverySupreme Court of the United States · 1893
- Central Improvement Co. v. Cambria Steel Co.Court of Appeals for the Eighth Circuit · 1913
- Central Improvement Co. v. Cambria Steel Co.Court of Appeals for the Eighth Circuit · 1912
- Commercial Publishing Co. v. BeckwithSupreme Court of the United States · 1903
3Cited by58 opinions
- Southern Pacific Co. v. BogertSupreme Court of the United States · 1919
- Pierce v. United StatesSupreme Court of the United States · 1921
- Kansas City Terminal Railway Co. v. Central Union Trust Co.Supreme Court of the United States · 1926
- Kansas City Southern Railway Co. v. Guardian Trust Co.Supreme Court of the United States · 1930
- Teamsters & Employers Welfare Trust of Illinois v. Gorman Brothers Ready MixCourt of Appeals for the Seventh Circuit · 2002
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