Fuller v. Memphis Street Ry. Co.

MOORMAN, Circuit Judge.

This is an appeal from an order of the District Court in a proceeding under 77B of the Bankruptcy Act (11 U.S.C.A. § 207) denying the appellants, a bondholders’ protective committee, later a reorganization committee, compensation for their services and reimbursement for expenses incurred by them, including counsel fees, in the reorganization of the Memphis Street Railway Company.

In January of 1932 the railway company defaulted on the payment of interest due on its bonds issued and outstanding under a deed of trust. After the default, appellants, owning or representing…