Sewall v. Brainerd
Supreme Court of Vermont
Appeal from a decree of the court of chancery made at the September Term, Franklin County, 1865, Poland, Chancellor, upon the petition of the holders of coupons which had been severed from the bonds to which they had been attached and issued by the Vermont Central Railroad Company, and known as the first mortgage bonds of said company, and sold by the holders of said bonds. 'The main facts in the case are set forth in the opinion of the court.
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Appeal from a decree of the court of chancery made at the September Term, Franklin County, 1865, Poland, Chancellor, upon the petition of the holders of coupons which had been severed from the bonds to which they had been attached and issued by the Vermont Central Railroad Company, and known as the first mortgage bonds of said company, and sold by the holders of said bonds. 'The main facts in the case are set forth in the opinion of the court. It appears from the decree of the 19th of January, 1864, referred to in the opinion, that the parties to that decree were the Vermont and Canada…
1Opinion of the Court
The opinion of the court was delivered by
Peck, J.
The question in this case is between the petitioners who are holders of certain interest coupons, and the holders of certain first mortgage bonds of the Vermont Central Railroad Company from which the coupons in question were cut. The controversy is whether the bondholders or the coupon holders have the better right to receive a payment which the receivers are about to make upon the mortgage debt out of funds in their hands.
In 1849 or 1850 the Vermont and Canada Railroad Company leased its road to the Vermont Central Railroad Company for a…
2Cited by3 opinions
- Sargent v. BaldwinSupreme Court of Vermont · 1887
- Miller v. Rutland & Washington RailroadSupreme Court of Vermont · 1867
- Stevens v. New York & O. M. R.U.S. Circuit Court for the District of Southern New York · 1876