Central of Georgia Ry. Co. v. Paul
Court of Appeals for the Fifth Circuit
Appeal from the Circuit Court of the United States for the Southern District of Georgia. On March 4, 1892, Rowena, Clark, a stockholder of the Central Railroad & Ranking Company of Georgia, filed her bill in the circuit court, assailing the validity of a certain lease made by the Central of Its entire railroad and property to the Georgia Pacific Railroad Company, under which lease the Richmond & Danville Railroad Company was then operating and controlling the same.
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Appeal from the Circuit Court of the United States for the Southern District of Georgia. On March 4, 1892, Rowena, Clark, a stockholder of the Central Railroad & Ranking Company of Georgia, filed her bill in the circuit court, assailing the validity of a certain lease made by the Central of Its entire railroad and property to the Georgia Pacific Railroad Company, under which lease the Richmond & Danville Railroad Company was then operating and controlling the same. She also assailed the legality of the control exercised over the Central by the Richmond & West Point Terminal- Railway &…
1Opinion of the Court
After reciting tbe foregoing, the opinion of the court was delivered by PARDEE, Circuit Judge.
There is no substantial dispute that the appellee, Mary P. Paul, was and is a creditor of the Central Railroad & Banking Company of Georgia, and the question is whether the Central of Georgia Railway Company is liable for her demand. The case shows that the sale of the railway properties under the foreclosure at the suit of the Central Trust Company, the' sale of the collateral securing the floating debt claims, and the sale of the “overflow property,” all were in pursuance of a reorganization plan,…
2Cases cited7 opinions
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- Scammon v. KimballSupreme Court of the United States · 1876
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