Chase v. Austrian

This is another appeal in the bankruptcy reorganization proceedings of the Central States Electric Corporation. The petition for reorganization of this corporation was filed in 1942, when it had assets of a value of approximately $1,400,000 and an outstanding indebtedness exceeding $18,000,-000. The affairs of the corporation have been handled under the direction of the court and its assets have increased to approximately $38,000,000. In 1948 a plan of reorganization was worked out, which was approved by the Securities and Exchange Commission and by the District Court. The order of the…