Sullivan v. St. Louis-San Francisco Railway Co.

New York Supreme Court

Sullivan v. St. Louis-San Francisco Railway Co.

147 Misc. 485, 263 N.Y.S. 396, 1933 N.Y. Misc. LEXIS 1020

DecidedMarch 31, 1933

StatusPublished

This text of 147 Misc. 485 (Sullivan v. St. Louis-San Francisco Railway Co.) is published on Counsel Stack Legal Research, covering New York Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Sullivan v. St. Louis-San Francisco Railway Co., 147 Misc. 485, 263 N.Y.S. 396, 1933 N.Y. Misc. LEXIS 1020 (N.Y. Super. Ct. 1933).

Pincite

Opinion

Shientag, J.

The motion to dismiss the complaint is granted. The proposed plan of reorganization is not illegal. It does not purport to bind non-assenting bondholders whose prior lien cannot be impaired save by foreclosure. While I am in sympathy with the notion of having preliminary hearings to pass on the fairness of plans for reorganization instead of waiting until they are virtually consummated, this court should not entertain jurisdiction where an interstate railroad carrier is involved, whose affairs are being administered under a receivership in the Federal courts. While the pleading is silent on this score, it is a matter of general public knowledge that such a receiver is now functioning, and it would be folly for this court to ignore it. Order signed.

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Shientag, J.

The motion to dismiss the complaint is granted. The proposed plan of reorganization is not illegal. It does not purport to bind non-assenting bondholders whose prior lien cannot be impaired save by foreclosure. While I am in sympathy with the notion of having preliminary hearings to pass on the fairness of plans for reorganization instead of waiting until they are virtually consummated, this court should not entertain jurisdiction where an interstate railroad carrier is involved, whose affairs are being administered under a receivership in the Federal courts. While the pleading is silent on this score, it is a matter of general public knowledge that such a receiver is now functioning, and it would be folly for this court to ignore it. Order signed.

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Bluebook (online)

147 Misc. 485, 263 N.Y.S. 396, 1933 N.Y. Misc. LEXIS 1020, Counsel Stack Legal Research, https://law.counselstack.com/opinion/sullivan-v-st-louis-san-francisco-railway-co-nysupct-1933.