Committee for Holders of Central States Electric Corp. v. Kent

This is an appeal in proceedings instituted under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq., for the reorganization of the Central States Electric Corporation, an investment company. The trustees appointed under the provisions of Chapter X filed a report of an investigation which they had conducted pursuant to sec. 167 of the Bankruptcy Act, in which they pointed out probable liability on the part of certain officers, directors and stockholders of the corporation but recommended that no suits be instituted on that account, on the ground that recovery was barred by the…