Brown v. Rican Corp.

117 F.2d 599, 1941 U.S. App. LEXIS 4287
CourtCourt of Appeals for the Second Circuit
DecidedFebruary 10, 1941
DocketNo. 166
StatusPublished
Cited by1 cases

This text of 117 F.2d 599 (Brown v. Rican Corp.) is published on Counsel Stack Legal Research, covering Court of Appeals for the Second Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Brown v. Rican Corp., 117 F.2d 599, 1941 U.S. App. LEXIS 4287 (2d Cir. 1941).

Opinion

SWAN, Circuit Judge.

On July 13, 1939, Porto Rican American Tobacco Company filed a petition for reorganization under chapter X of the Bankruptcy Act, 11 U.S.C.A. § 501 et seq. Its-attorney was the appellant; he had been retained as its counsel for this proceeding on June 23, 1939. The district court immediately approved the petition, appointed trustees for the debtor and allowed them. to retain an attorney to serve as their counsel. Thereafter two committees representing bondholders and two committees-representing Class A stockholders were created and permitted to intervene in the-proceeding. Each of these committees had its own attorney. In March 1940 the trustees proposed a plan of reorganization, which contemplated the formation of a. new corporation to continue the business, and the issuance of preferred stock to the debtor’s bondholders and a junior stock to-the debtor’s Class A stockholders. A. month later the trustees obtained an offer of $4,000,000 for the assets of Congress. Cigar Company (the debtor’s subsidiary), and they thereupon proposed an amended plan based upon acceptance of this offer. The amended plan was confirmed over the opposition of the stockholders’ committees, with whose attorneys the appellant cooperated. -From the order of confirmation the stockholders’ committees took an appeal, as did also the debtor. This court, affirmed the order. In re Porto Rican Am.Tobacco Co., 2 Cir., 112 F.2d 655. Thereupon the attorney for the debtor, the trustees and their counsel, the bondholders’ and stockholders’ committees and their counsel and various other persons who [601]*601claimed to be entitled to compensation, filed their several petitions therefor in the district court.

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Related

In Re Porto Rican American Tobacco Co.
117 F.2d 599 (Second Circuit, 1941)

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Bluebook (online)
117 F.2d 599, 1941 U.S. App. LEXIS 4287, Counsel Stack Legal Research, https://law.counselstack.com/opinion/brown-v-rican-corp-ca2-1941.