Driscoll v. Empire Trust Co.

SWAN, Circuit Judge.

This litigation was initiated by the trustees in reorganization of Associated Gas and Electric Corporation, hereafter called the Corporation, to obtain a judicial determination of the question whether certain funds in their possession should be regarded as general assets or be held, for the benefit of a special class of creditors, namely, the owners of unclaimed interest which had accrued on the Corporation’s bonds before January 10, 1940, the date when its petition for reorganization was filed. The Corporation has outstanding three issues of unsecured bonds or debentures,…