[Download] "In Re Philadelphia & Reading Coal & Iron Co." by United States Court of Appeals for the Third Circuit # eBook PDF Kindle ePub Free

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eBook details

• Title: In Re Philadelphia & Reading Coal & Iron Co.
• Author : United States Court of Appeals for the Third Circuit
• Release Date : January 30, 1939
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 64 KB

Description

In Steere v. Baldwin Locomotive Works, 3 Cir., 98 F.2d 889, and Central Hanover Bank & Trust Co. v. Philadelphia & Reading Coal & Iron Co., 3 Cir., 99 F.2d 642, this court, in accord with the Circuit Courts of Appeals of the Second and Fifth Circuits, laid down rules for the guidance of the district courts in permitting the intervention of security-holders committees in reorganization proceedings under Sec. 77B of the Bankruptcy Act, 11 U.S.C.A. 207, and treating intervention as a condition precedent to the allowance of compensation to such committees and their counsel. Four committees of securityholders of the Philadelphia and Reading Coal and Iron Company have taken the present appeals from orders of the District Court for the Eastern District of Pennsylvania denying them the right to intervene in the pending proceeding for the reorganization of that company. The court found that if the rules to which we have referred were applicable the appellants should be granted the right to intervene, but it refused the right because it felt that those rules are not applicable to a proceeding to which certain provisions of Secs. 206, 207 and 209 of Chap. X of the Bankruptcy Act, as amended by the Chandler Act, 11 U.S.C.A. 606, 607, 609, apply. The provisions referred to are as follows:

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