Abercrombie v. United Light & Power Co.

WILLIAM C. COLEMAN, District Judge.

This is a suit in equity brought by the individual members of a bondholders’ protective committee as holders of $1,321,000' of the first mortgage 5 per cent, bonds of Grand Rapids, Grand Haven & Muskegon Railway, which have been in default as to principal since July 1, 1926, and as to interest since January 1, 1926; the railway company having been in receivership since July 28, 1926; The bill of complaint seeks a decree adjudging the defendant, the United Light & Power Company, as stockholder of the railway company, liable to the plaintiffs in an amount…