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Douglas Island News
Douglas, Alaska
What is this article about?
The Alaska Central railway opposes foreclosure proceedings initiated by the Trust and Guarantee Company of Canada through a demurrer, citing lack of legal capacity and improper complaint structure, likely leading to a prolonged legal fight over the property.
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Full Text
It was the intention of the Trust and Guarantee Company representatives to close up the affairs of the railroad by March and sell the property under foreclosure proceedings. The demurrer will prevent such action unless Judge Reid dismisses it.
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Where did it happen?
Domestic News Details
Primary Location
Alaska
Key Persons
Outcome
prolonged legal fight for possession of the property will probably ensue. the demurrer will prevent closing affairs and selling property by march unless dismissed by judge reid.
Event Details
Foreclosure proceedings against the Alaska Central railway, started by the Trust and Guarantee Company of Canada, holder of first mortgage bonds, are opposed by the Alaska Central company. Attorneys filed a demurrer to the bankruptcy complaint on grounds that the trust company lacks legal capacity to act and several causes of action are improperly united.