Pioche Mines Consolidated, Inc. v. Fidelity-Philadelphia Trust Co.

This is a motion by the appellee, Fidelity-Philadelphia Trust Company, to dismiss an appeal by Pioche Mines Consolidated, Pioche Mines and others from a summary judgment of the district court entered on May 11, 1950 and directing the parties herein to perform a Settlement Agreement executed by them. That Agreement provided for a reorganization of the appellant corporations and another corporation into a single company and was intended by the parties as a compromise of previous litigation between them.

Performance of this Agreement involves, among other things, the transfer of new income bonds by the appellants to the appellee in return for old debentures of the companies undergoing reorganization. It will also mean that the appellants must endeavor to sell for cash preference notes in the new company so that legal expenses of the reorganization may be paid. .

The successful suitor under the summary judgment seeks to have a dismissal of this appeal on the - ground that the district court has not disposed of matters in the original complaint and has therefore violated Rule 54(b), Federal Rules of Civil Procedure, 28 U.S.C.A. We think no disposition of the original complaint was…