Austrian v. Williams

LEIBELL, District Judge.

In accordance with the direction of the Circuit Court of Appeals, Fourth Circuit, in the Miatter of Central States Electric Corporation, 4 Cir., 143 F.2d 684, the plaintiffs herein were substituted as trustees of Central States Electric Corporation in the proceeding for the reorganization of that corporation under Chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq. After an investigation, pursuant to Sec. 167 of the Act, these trustees brought this action July 15, 1945, against the officers and directors (past and present) of the corporation, its principal…