This bill aims to allow debtor railroad corporations with sufficient earnings to pay fixed charges over a seven-year period to restructure their finances without going through the bankruptcy process under section 77 of the Bankruptcy Act. It outlines the conditions and procedures for such a readjustment, including the involvement of the Interstate Commerce Commission and the appointment of trustees. The bill also clarifies that the provisions do not limit other rights of the debtor or parties involved in bankruptcy proceedings.

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Bill to Enable Debtor Railroad Corporations to Readjust Financial Structure

Identifier:
CAC_CC_047_1_6_37_0001
Contributing Institution:
Carl Albert Congressional Research and Studies Center, University of Oklahoma, Norman, OK
Title:
Bill to Enable Debtor Railroad Corporations to Readjust Financial Structure
Date Created:
1946-03-28
EDTF:
1946-03-28
Creator:
unknown
Rights:
http://rightsstatements.org/vocab/NKC/1.0/
Language:
eng
Record Type:
correspondence
Collection:
George B. Schwabe Collection
Collection Finding Aid:
https://arc.libraryhost.com/repositories/3/resources/37
Description:
This bill aims to allow debtor railroad corporations with sufficient earnings to pay fixed charges over a seven-year period to restructure their finances without going through the bankruptcy process under section 77 of the Bankruptcy Act. It outlines the conditions and procedures for such a readjustment, including the involvement of the Interstate Commerce Commission and the appointment of trustees. The bill also clarifies that the provisions do not limit other rights of the debtor or parties involved in bankruptcy proceedings.
Topic:
Transportation--United States
Congress:
79th (1945-1947)
Physical Location:
CAC_CC_47_1_0000, Box 6, Folder 37, University of Oklahoma, Carl Albert Center Archives, Norman, OK, Standard Shelving
Location Represented:
Oklahoma (state), United States (nation)
Type:
Text
Extent:
4 Pages