Crump

Crump v. Ramish

Good Law
86 F.2d 362·1936 U.S. App. LEXIS 3743
United States Court of Appeals for the Ninth CircuitNovember 16, 1936No. 8250California1,039 words

Opinion

Lead Opinion

Haney, J.

This is an appeal from an order denying a petition for allowance of securities as attorneys’ fees to appellants in an equity receivership of Sunset Pacific Oil Company, Marine Corporation, and Marine Refining Corporation.

Sunset Pacific Oil Company, a corporation, hereinafter referred to as Sunset Company, issued as of January 1, 1929, $10,000,000 first mortgage and collateral trust 6% per cent, bonds. The two Marine companies, as of the same date, executed a trust indenture for the purpose of further securing such bonds. Sunset Company issued also, as of February 1, 1929, some $2,200,000 ten-year 6% per cent, debentures, which were unsecured.

In 1931, Berryessa Cattle Company, a corporation, filed suit against Sunset Company to recover on an unsecured note in the sum of $30,000, and praying that a receiver be appointed. Receivers for the Sunset and Marine Companies were appointed. Subsequently the trustee under the mortgage and collateral trust agreement filed a foreclosure suit, which was, by the court, consolidated with the first named suit.

Certain of the debenture holders employed appellants to intervene, The complaint in intervention alleged that it was filed on behalf of…

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