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- Title
THE VOLUNTARY ADJUSTMENT OF RAILROAD OBLIGATIONS.
- Authors
WILL, HUBERT L.
- Abstract
The article offers information on the clause of Railroad Adjustment, which has been added in the Section 77 of the Bankruptcy Act of the U.S. It mentions that Section 77 was formed to reorganize and recapitalize the U.S. railroad industry, to manage industry's bankruptcy. It reveals that Railroad Adjustment focused on the railroad financial troubles and also known as voluntary adjustment or reorganization. It informs that under voluntary adjustment, the receivership ended with maximum creditors and security holders of old corporation and accepting a plan of reorganization, preventing the necessity for foreclosure and creation of a new corporation.
- Subjects
UNITED States; UNITED States railroad law; CORPORATE reorganizations; RECEIVERSHIP; RECAPITALIZATION; RAILROADS; RAILROAD companies; FORECLOSURE; BANKRUPTCY
- Publication
Law & Contemporary Problems, 1940, Vol 7, Issue 3, p519
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1189710