Peoria & E. Ry. Co. v. Coster
U.S. Circuit Court for the District of Southern New York
This was a suit in equity to compel the delivery to complainant of certain securities. This cause comes here upon pleadings and proofs. There seems to be no dispute as to the facts. The relief sought is the delivery by defendants, Coster and others, of certain securities to complainant. Said defendants are the reorganization committee of the Ohio. Indiana & Western Kail way Company. Complainant is the successor railway, created under reorganization agreement in the usual way.
1Opinion of the Court
LACOMBE, Circuit Judge.
By the terms of the reorganization agreement, there were to be issued $10,009,000 first consolidated mortgage bonds of the plaintiff company. Of these the holders of non-preferred first mortgage bonds of the Ohio, Indiana & Western were to receive’ $6,500,000, bond for bond. Other distributees were also to receive divers parts of t.iiis issue. By the terms of this agreement, the said bonds were to he or become, in the hands of their holders, absolute first mortgage bonds, unincumbered by any prior lien; for it was expressly provided that $1,500,000 of them was to be…
2Cases cited2 opinions
- Lawrence v. . FoxNew York Court of Appeals · 1859
- Austin v. SeligmanU.S. Circuit Court for the District of Southern New York · 1883
3Cited by1 opinion
- Carter v. 1st Nat'l Bk. PocahontasCourt of Appeals of Maryland · 1916