Railroad Reorganization under Section 77 of the Bankruptcy Act: New Legislation Suggested
1934; The Yale Law Journal Company; Volume: 44; Issue: 2 Linguagem: Inglês
10.2307/790915
ISSN1939-8611
Autores Tópico(s)Legal Issues in South Africa
Resumominate the proceeding by dismissal;"' and that the court in its order of dismissal may provide for direct transfer of the properties to an equity receiver whether acting under a federal or state court. 1 0 On the other hand, it also provides for a method by which a company in equity receivership may take advantage of the Act. 17III ACTION UNDER SECTION 77 Altogether fourteen proceedings have thus far been instituted under Section 77, of which one (by a small property) has been dismissed.Of those pending there are five involving Class I roads, instituted on the dates, in Federal district courts, in cities, as follows: Missouri Pacific Railway Company, filed on March 31, 1933 (in St. Louis); Chicago and Eastern Illinois (the C. & E. I.), April 18, 1933 (in Chicago); St. Louis & San Francisco Railway Company (the Frisco), May 16, 1933 (in St. Louis); Chicago, Rock Island and Pacific Railway Company (the Rock Island), June 7, 1933 (in Chicago); and Chicago, Indianapolis & Louisville (the Monon), December 30, 1933 (in Chicago).The other eight cases involve minor properties, only two having been instituted in the year 1934.18
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