Kelley v. Prudence Co.

The action is for a declaratory judgment. A trust indenture, under which bonds have been issued, is involved. The plaintiffs, executors and trustees of an estate, are owners of a substantial amount of such bonds. They have instituted the action on behalf of themselves and all other bondholders similarly situated. The defendants are the obligors of the bonds, the trustee and two corporations alleged to have some interest unknown to the plaintiffs. It appears one of them is the guarantor. The bonds mature in 1961. There have been no defaults in the payment of principal or of interest.

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