Kaiser Steel Corp., In re

• Citation: 952 F.2d 1230
• Decision Date: 15 June 1955
• Docket Number: AFL-CIO,SLK-SEG,SSB-C
• Parties: , 26 Collier Bankr.Cas.2d 443, Bankr. L. Rep. P 74,387 In re KAISER STEEL CORPORATION, Debtor. KAISER STEEL CORPORATION; Kaiser Steel Resources, Inc., formerly known as Kaiser Steel Corporation, Plaintiffs-Appellants, v. PEARL BREWING COMPANY; Falstaff Brewing Company; Oppenheimer & Co. Inc.; Josephthal & Co., Josephthal & Co. Incorporated; the Hillman Co., Individually and as Trustee for the N.M.U. Pension Trust; Herzfeld & Stern; Herzfeld & Stern Inc., now known as JII Securities, Inc.; Goldman Sachs & Co.; A.G. Becker Paribes Inc., now known as Merrill Lynch Money Market, Inc.; A.G. Edwards & Sons, Inc.; Alpine Associates; Asiel & Co.; Bankers Trust Company; Barclay's Bank International Limited; Bear Stearns & Co., individually and as custodian for the IRA Account of Robert W. Sabes; Bradford Trust Co.; Cowen & Co.; Crocker National Bank; Dain Bosworth, Inc.; Dillon Read & Co., Inc., individually and as General Partner of B/DR Arbitrage Fund Limited Partnership; Doft & Co., Inc.; Drexel Burnham Lambert, Inc.; Easton & Co.; Edward A. Viner & Co., Inc., now known as Fahnestock & Co.; Edward D. Jones & Co.; Engler & Budd Company; Eppler, Guerin & Turner, Inc.; Ernst & Company; Evans & Co., Inc.; Fifth Third Bank; First Kentucky Trust Company; Herzog, Heine, Geduld, Inc.; Huntington National Bank; Kellner, Dileo & Co.; Kidder, Peabody & Co.; L.F. Rothschild Unterberg, Towbin, now known as L.F. Rothschild & Co., Inc.; Lafer Amstar & Co., now known as Amstar & Co.; Laidlaw Adams & Peck, Inc.; Manley, Bennett, McDonald & Co.; Manufacturers National Bank of Detroit, individually and as Trustee for Manufacturers Extended Index Fund; Marcus Schloss & Co., Inc.; Marine Midland Bank, N.A.; Marine Midland Bank; Moore & Schley, Cameron & Co.; Morgan Guaranty Trust Company; Morgan, Olmstead, Kennedy & Gardner, Inc., now known as Wedbush Morgan Securities; Newhard, Cook & Co., Incorporated; Oscar Gruss & Son, Inc.; Paine, Webber, Jackson & Curtis, Inc., now known as Paine Webber
• Court: U.S. Court of Appeals — Tenth Circuit

Page 1230

952 F.2d 1230

60 USLW 2423, 26 Collier Bankr.Cas.2d 443,

Bankr. L. Rep. P 74,387

In re KAISER STEEL CORPORATION, Debtor.

KAISER STEEL CORPORATION; Kaiser Steel Resources, Inc., formerly known as Kaiser Steel Corporation, Plaintiffs-Appellants, v. PEARL BREWING COMPANY; Falstaff Brewing Company;

Oppenheimer & Co. Inc.; Josephthal & Co., Josephthal & Co.

Incorporated; the Hillman Co., Individually and as Trustee

for the N.M.U. Pension Trust; Herzfeld & Stern; Herzfeld &

Stern Inc., now known as JII Securities, Inc.; Goldman

Sachs & Co.; A.G. Becker Paribes Inc., now known as Merrill

Lynch Money Market, Inc.; A.G. Edwards & Sons, Inc.;

Alpine Associates; Asiel & Co.; Bankers Trust Company;

Barclay's Bank International Limited; Bear Stearns & Co.,

individually and as custodian for the IRA Account of Robert

W. Sabes; Bradford Trust Co.; Cowen & Co.; Crocker

National Bank; Dain Bosworth, Inc.; Dillon Read & Co.,

Inc., individually and as General Partner of B/DR Arbitrage

Fund Limited Partnership; Doft & Co., Inc.; Drexel Burnham

Lambert, Inc.; Easton & Co.; Edward A. Viner & Co., Inc.,

now known as Fahnestock & Co.; Edward D. Jones & Co.;

Engler & Budd Company; Eppler, Guerin & Turner, Inc.;

Ernst & Company; Evans & Co., Inc.; Fifth Third Bank;

First Kentucky Trust Company; Herzog, Heine, Geduld, Inc.;

Huntington National Bank; Kellner, Dileo & Co.; Kidder,

Peabody & Co.; L.F. Rothschild Unterberg, Towbin, now known

as L.F. Rothschild & Co., Inc.; Lafer Amstar & Co., now

known as Amstar & Co.; Laidlaw Adams & Peck, Inc.; Manley,

Bennett, McDonald & Co.; Manufacturers National Bank of

Detroit, individually and as Trustee for Manufacturers

Extended Index Fund; Marcus Schloss & Co., Inc.; Marine

Midland Bank, N.A.; Marine Midland Bank; Moore & Schley,

Cameron & Co.; Morgan Guaranty Trust Company; Morgan,

Olmstead, Kennedy & Gardner, Inc., now known as Wedbush

Morgan Securities; Newhard, Cook & Co., Incorporated;

Oscar Gruss & Son, Inc.; Paine, Webber, Jackson & Curtis,

Inc., now known as Paine Webber, Incorporated; Q & R

Clearing Corporation; R.L. Tucker, Anthony & Day, Inc.,

also known as Anthony Tucker & R.L. Day, Inc.; Regional

Clearing Corp.; S.B. Lewis & Co.; Sanford C. Bernstein &

Co., Inc.; Securities Settlement Corp.; Shawmut Bank of

Boston, N.A.; SLK-SEG; Smith, Barney, Harris, Upham & Co.,

Inc.; Southwest Securities, Inc.; SSB-Custodian, also

known as State Street Bank and Trust Co., Individually and

as Trustee for American Telegraph and Telephone Pension

Fund; Sutro & Co., Inc.; Swiss American Securities, Inc.;

Swiss Bank Corporation; Thomson McKinnon Securities, Inc.;

United States Trust Company of New York; Walwyn Stodgell

Cochran Murray, Limited; Weedbrush, Noble & Cooke, Inc.,

now known as Wedbush Morgan Securities; Wells Fargo Bank,

N.A.; Baily Gordon Securities, now known as Gordon Capital;

First Arbitrage Partnership, now known as Brenzel

Birkenshaw Capital, Inc.; American National Bank and Trust

Company of Chicago; Alan Bush, now known as J.W. Charles

Bush, Securities Inc.; K.J. Brown & Co., Inc.; Millikin

National Bank of Decatur; O'Connor Securities; Stephens,

Inc., now known as Stephens Group, Inc.; Larkin & Co.;

SAIC/SNY; Somers Grove; and the First Boston Corporation,

Defendants-Appellees,

and

Securities Exchange Commission, Appellees,

and

Advest, Inc.; Atlantic Capital Corp., now known as Deutsche

Bank Capital Corp.; Bank of Montreal; Bank of New England,

N.A.; Brown Brothers Harriman & Co.; Chemical Bank; Dean

Witter Reynolds, Inc.; Fahnestock & Co.; First Albany

Corp.; Jefferies & Company, Inc.; Kalb, Voorhis & Co.;

Lewco Securities Corp.; Mabon, Nugent & Co.; Manufacturers

& Traders Trust Co.; Merrill, Lynch, Pierce, Fenner and

Smith, Inc.; McLeod Young Weir, Limited; National

Financial Services Corp.; Pacific Brokerage Services;

Piper Jaffray & Hopwood, Inc.; Spear Leeds & Kellogg;

Tweedy Browne Clearing Corp.; Burke Christensen & Lewis

Securities, Inc.; Continental Bank; I.M. Simon & Co.;

Emette Larkin & Co., Defendants.

KAISER STEEL RESOURCES, INC., formerly known as Kaiser Steel

Corporation, Plaintiff-Appellant, v. ACTION TRADERS, INC., now known as ATI Corporation; John A.

Alden, M.D., & Ann Alden; Altona Holdings, Ltd.; American

Fletcher Bank Suisse, now known as Merrill Lynch

International Bank (Suisse), S.A.; Herbert M. Ames;

Lillian Ames; Robert Stabler, individually and as trustee

for the Amesbury Fund; W.H. & S.C. Amesbury, Individually

and as Trustees for u/w/o Jane Winton & f/b/o Scott Winton;

William H. Amesbury; Arshot Investment Corporation; Bank

Oppenheim Pierson; IRA Account of Robert W. Sabes, and

Robert W. Sabes, Individually; Lyle A. Berman; Janis R.

Berman; John C. Bondurant; Doris Bondurant; Building

Service Employees Retirement Pension Fund Local 32E, AFL-CIO

TN UA 06/15/55 and its Trustee; Broadway Realty Co.;

Bullett Bay International Co. N.V.; Barbara Barrett Busby,

individually and as trustee FBO Barbara B. Busby Revocable

Trust UTD DTD; Cascade Fund, a limited partnership;

Wilfred Clegg; Vera Clegg, individually and as co-trustees

for the Clegg Family Trust UDT DTD 5/14/71; College

Retirement Equities Fund; Thomas Conway; Judith Ann

Cotton; Sumner Cotton; Curtis Associates, Inc.,

individually and as trustee for the Pension Trust and the

Retirement Trust; Alan Curtis, individually and as trustee

for the Pension Trust and the Retirement Trust; Alan

Curtis, individually and as trustee for the Alan Trust and

the Curtis Trust; Daper Realty Inc.; Decisions, Inc.;

Delbrueck & Co.; B/DR Arbitrage Fund Limited Partnership

and Bessemer Securities Corporation as its Limited Partner;

Elisabeth H. Doft; Alan Doft; E.F. Brady Company; Easton

& Co.; A.G. Ellis; Jacquelyn Esco; Wells Fargo Bank,

individually and as trustee of Exxon Corp. Annuity Trust

Fund; Mary Fullerton Farr; Femirol Overseas S.A.; William

Barry Furlong; Isabel Furlong; GSC of Nevada, Inc.;

Charles R. Gesme; Henry Goode; Goode-Adel Partnership;

Sam V. Gordon; Anita V. Gordon; Sam V. Gordon, doing

business as Gordon Enterprises; Sheldon I. Greenberg;

Gordon Grender; Bankers Trust, individually and as Trustee

for GTE Service Corp., also known as GTE High Yield Account;

Hambros Bank, Ltd.; Jacob Harris, M.C., P.C. Defined

Benefit Pension Trust and its Trustee; Warren Harrison;

Doris Grunwald; Karin Heine; Peggy Heine, co-executrixes

of the Estate of Max L. Heine and Estate of Charlotte Heine;

Herman Wilson Lumber Company; Joseph Iny; Mrs. Joseph

Iny; Richard O. Jacobson; Sarah T. Jacobson; Paul

Jacobson; Deborah F. Cooper; Lillian Gibson; Paul

Schryver, as successor trustees to Eve B. Jarvis as trustee

UA 07/01/64 Airlie Trust; Paul G. Jende; Arlene M. Jende;

Clara Kellner; George A. Kellner; John Doe Trustee,

individually and as trustee for the Keystone Aggressive

Stock Trust; Individually and as Trustee for the Keystone

Custodian Fund S-4; Kinsdale Partners; Sidney Kisin;

Edmund Klein; Norma Klein; Ezra Kotcher; Dorothy Kotcher;

W. Donald Larson; Francis W. Lawrence, individually and as

trustee for u/a D.T.D. 12/30/81, Derald H. Ruttenberg

Charitable Lead Annuity Trust; Les Fils Dreyfus & CIE S.A.;

Hugh T. Lindsay; Mrs. Hugh T. Lindsay; James K. Lindsay;

Mrs. James K. Lindsay; M.H. Davidson & Co.; Maerki Baumann

& Co., A.G.; Leo Mainemer; Ester Mainemer; Elliot Marple;

Barbara K. Marple; Wilbert K. Martin; Elizabeth M.

Martin; Ivor Massey, Jr.; Jane Doe Massey; John B.

McDonald; Elaine McKelvey; Robert D. McLean; Mrs. Robert

D. McLean; Mercury Securities, Inc.; Midland Bank Princess

Street, Nominees Limited; Moseley, Haugarten, Estabrook &

Weeden, Inc., also known as Mosely Securities; Mount Sinai

Medical Center, Inc.; Moussard S.A.; Michael Muller; Elke

M. Muller; Nerval & Manor; Number Seven Account, and its

Trustee (029-24-9996); T 98 ARB 1980, Account # 000-01198

with Oscar Gruss & Sons, Inc.; John D. Picchetti; Margaret

M. Picchetti; Picchetti, Inc.; Al I. Pollack; Beverly

Pollack; R.P. Richards, Inc.; Research Charitable Trust,

and its Trustee; R.J. Scheuer & Co.; E. Franklin Robbins &

Jane Doe Robbins; Robert Fleming, Inc., now known as

Flemings North America Inc.; Royal Bank of Scotland PLC, as

trustee for RBOS-TT-UTS All Sun Amer Spec; Royal Bank of

Scotland PLC, as trustee for RBOS-TT-UTS All Dun Intl Fund;

Royal Bank of Scottsdale PLC, as trustee for RBOS-TT-UTS All

Dun Intl Fund; Royal Bank of Scotland PLC, as trustee for

RBOS-TT-UTS All Dun Sec Amr Tr; Royal Investment Company;

S. Paul Posner & Co.; Saltzman Partners; San Francisco

Museum of Modern Art; Gene L. Schumacher; Mrs. Gene L.

Schumacher; Sequoia Ins. Corp.; Marjorie Shamgochian and

the Estate of Heront Shamgochian; J.R. Simplot; Esther

Simplot; Soberano Oceanico; Mary Amesbury Stabler; Robert

C. Stabler; Robert C. Stabler, individually and as trustee

u/a/d f/b/o L. Stabler; John Stavick; STE Jeanes

Corporation; Jackson T. Stephens; Mary Anne Stephens;

Robert S. Strauss, individually and as trustee of the Robert

S. Strauss, P.C. Defined Benefit Plan; TR 30, a New York

Partnership; Ultramar Travel Bureau Profit Sharing Trust,

UA 11-10-67 and its Trustee; Unicorp Canada Corporation;

Universal Life Church, Inc. Charter, 30488 and Bayard Ryder;

Warm Springs Associates; Warner W. Henry, individually and

as trustee FBO Henry Family Trust UDT DTD 12/04/82; Waruda

Holdings, Ltd.; Abraham Weiss; Ruth Weiss; Wells Fargo

Bank, individually and as trustee of the Extended Market

Fund for EBT, 368-500069 and its Participants; Wells Fargo

Bank, individually and as trustee for Walter LeBand Trust

(or Francine LeBand, individually and as executor for the

Estate of Walter LeBand); Jeffrey Wendel; Wertheim

Schroder & Co., Inc.; Wheel Barrow & Co.; Wift & Co.;

Harry Wilf; Joseph Wilf; Y Partnership; Z.H. Associates;

Estate of Gerald L. Conrad, doing business as Conrad Sales

Co.; McCosker Partners; and the First Boston Corporation,

Defendants-Appellees,

and

Securities Exchange Commission, Appellee,

and

Joseph H. Whitney, Defendant.

Nos....