In re Journal-News Corp.

Second Circuit

In re Journal-News Corp.

193 F.2d 492

CourtCourt of Appeals for the Second Circuit

DecidedDecember 20, 1951

DocketNo. 128, Docket 22192

StatusPublished

Cited by1 cases

This text of 193 F.2d 492 (In re Journal-News 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.

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In re Journal-News Corp., 193 F.2d 492 (2d Cir. 1951).

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Opinion

PER CURIAM.

An arrangement under Chapter XI affects only the unsecured creditors of the debtor. 11 U.S.C.A. § 706. The bankruptcy court has exclusive jurisdiction of the debt- or and his property. 11 U.S.C.A. § 711. But the debtor has no property interest in the shares of its stock owned by its stockholders. Consequently the court had no jurisdiction to restrain disposal of their stock. See In re Hotel Martin Co. of Utica, 2 Cir., 94 F.2d 643; In re Gobel, 2 Cir., 80 F.2d 849. The restraining order is reversed.

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PER CURIAM.

An arrangement under Chapter XI affects only the unsecured creditors of the debtor. 11 U.S.C.A. § 706. The bankruptcy court has exclusive jurisdiction of the debt- or and his property. 11 U.S.C.A. § 711. But the debtor has no property interest in the shares of its stock owned by its stockholders. Consequently the court had no jurisdiction to restrain disposal of their stock. See In re Hotel Martin Co. of Utica, 2 Cir., 94 F.2d 643; In re Gobel, 2 Cir., 80 F.2d 849. The restraining order is reversed.

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193 F.2d 492, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-journal-news-corp-ca2-1951.

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