Bankers Trust Co. v. Henwood

STONE, Circuit Judge.

The St. Louis Southwestern Railway Company is in course of administration under section 77 of the Bankruptcy Act, as amended (11 U.S.C.A. § 205). Appellee is the trustee appointed and acting under the act. Appellants are the trustees of various successive mortgagees, all junior to a first mortgage. Interest payments, due since initiation of this debtor’s proceeding, on these junior mortgages, have not been made. There is no default on first mortgage interest. Appellee filed two petitions for acquirement of rolling stock — one covered five locomotives, the other ten…