Business: Reorganizations

In the fiscal year ending June 30, 1933, one billion dollars worth of U. S. partnerships, companies and corporations went to the wall. When the owners and creditors of this vast collection of corporate wreckage took to the courts to salvage their wealth, they found themselves hampered by small recalcitrant groups of creditors and stockholders who blocked reorganization time & again until they were bought off for cash. With co-operation almost impossible, receiverships dragged into endless litigation with fat fees for lawyers on all sides....

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