Kelley v. Everglades Drainage District

In this case we are asked to review a plan for composition of the debts of respondent, a drainage district organized under the laws of Florida. The courts below have confirmed the plan under § 83 (e) of the Bankruptcy Act, 50 Stat. 653, 658, 11 U. S. C. § 403 (e), as amended, upon the finding of the District Court, prerequisite to the adoption of the plan, that it is “fair, equitable, and for the best interests of the creditors and does not discriminate unfairly in favor of any creditor or class of creditors.” 132 F. 2d 742.

Petitioners are holders of interest coupons, detached from bonds…