Badenhausen v. Glazebrook

The system of railroads known as the Seaboard Air Line Railway, consisting of about 4,000 miles in the Fourth and Fifth Judicial Circuits, was put in receivership by a bill in equity for mortgage foreclosures, in the Eastern District of Virginia, filed December 23, 1930. An ancillary receivership, with the .same receivers, was had in the Fifth Circuit in the Southern District of Florida. Since that date provisions for reorganization of railroads in bankruptcy have been enacted, but no appeal to the powers of the bankruptcy court has been made. A plan for reor*451ganization in equity was proposed…