Today in Supreme Court History: August 6

In re Equitable Office Bldg. Corp., 72 S.Ct. 1086 (decided August 6, 1946): Bankruptcy trustee’s plan of reorganization had been accepted by the Bankruptcy Court.  Stay of consummation of the plan sought by two previously unobjecting stockholders who had found a refinancer with better terms.  Reed holds that the lower court’s refusal to modify the plan was not discretionary and, citing Bankruptcy Code provisions as to appealability, grants stay.  (Business was refinanced in 1947, though it later sold building which, built in 1915, still stands at 120 Broadway, downtown Manhattan.  Full of law firms.  I’ve been there many times.  Big, old, echo-y bathrooms.  Big, old, echo-y lawyers too.)