Nichols v. Alker

I concur in the decision, but I think my colleagues travel the wrong road to reach the correct conclusion.

1. Of course, the “enforcing court” (i. e. the court which enforced the S. E. C. order approving the plan) had exclusive jurisdiction of everything relating to the plan and to the allocation of the assets of the reorganized company, i. e. the allocation of securities issued pursuant to the plans. Of course, too, that court’s injunction prohibited the plaintiffs from taking any steps whatever, except in the enforcing court, to obtain a larger share of the assets of that company. For that…