SOUTHERN RAILWAY COMPANY, PETITIONER,

v.

LEMON TOWNSEND

Citator

Cited By

• In re Stirling Homex Corp. v. Raichle, 579 F.2d 206 (2d Cir. 1978)
  …general creditors of their corporation. Whatever relief may be granted to them in this case will reduce the percentage which the general creditors will ultimately realize upon their claims.” Scott v. Abbott, 160 F. 573, 581 (8th Cir.), cert. denied, 212 U.S. 571, 29 S.Ct. 682, 53 L.Ed. 655 (1908). We will not allow stockholders whose claims are based solely on the alleged fraud that took place in the issuance of stock to deplete further the already meager pool of assets presently available to the general…
• Blythe v. Doheny, 73 F.2d 799 (9th Cir. 1934)
  …ation engaged in organization is said to issue stock when it obtains subscriptions for it; and, in the construction of tax laws, words are to be interpreted in their popular sense.” In Scott v. Abbott (C. C. A. 8) 160 F. 573, 577, certiorari denied 212 U. S. 571, 20 S. Ct. 682, 53 L. Ed. 655, the court said: “The word ‘issue’ here employed is obviously used in its ordinary commercial or financial sense, meaning ‘to emit/ ‘put into circulation/ or ‘dispose of securities’ already authorized and prepared for d…
• In re U. S. Fin. Inc. v. U. S. Fin. Inc., 648 F.2d 515 (9th Cir. 1980)
  …ize would be reduced were Kelce allowed to rescind and reclaim. The absolute priority rule will not tolerate this eventuality. Matter of Stirling Homex Corp., supra, 579 F. 2d [*520] at 213; Scott v. Abbott, 160 F. 573, 581 (8th Cir.), cert. denied, 212 U.S. 571, 29 S.Ct. 682, 53 L.Ed. 655 (1908). . Professors Slain and Kripke have analyzed the expectations of shareholders and creditors. They point out that shareholders accept two risks: the risk of business insolvency and the risk of illegality in securit…