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Story
January 7, 1941
Imperial Valley Press
El Centro, Imperial County, California
What is this article about?
The US Supreme Court upholds irrigation districts' right to use federal municipal bankruptcy act in Merced-Corcoran cases, clearing a major hurdle for Imperial Irrigation District's refunding plan and reducing appeal risks, benefiting Imperial Valley residents by hastening litigation resolution.
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THE PATH SMOOTHED
The United States Supreme Court decision in the Merced-Corcoran cases upholding the right of irrigation districts to avail themselves of the federal municipal bankruptcy act has a direct application to the Imperial Irrigation District's refunding case.
It removes one major point-possibly the biggest issue of them all--upon which dissenting bondholders are likely to appeal to the circuit court, and later to the supreme court, if District Judge Ralph E. Jenney approves the local refunding case after hearings this month.
It leaves only one issue upon which an appeal can be taken from Jenney's judgment--if it is a favorable one, as seems likely. That issue is fairness of the terms of the plan itself. The constitutional question is disposed of in the Merced-Corcoran ruling.
To the people of Imperial Valley, the supreme court ruling is a welcome one. It should, in the legal course of events, mean less delay before a final end is written to refunding litigation. Anything reducing possible delay in conclusion of this matter is of vital importance here.
The United States Supreme Court decision in the Merced-Corcoran cases upholding the right of irrigation districts to avail themselves of the federal municipal bankruptcy act has a direct application to the Imperial Irrigation District's refunding case.
It removes one major point-possibly the biggest issue of them all--upon which dissenting bondholders are likely to appeal to the circuit court, and later to the supreme court, if District Judge Ralph E. Jenney approves the local refunding case after hearings this month.
It leaves only one issue upon which an appeal can be taken from Jenney's judgment--if it is a favorable one, as seems likely. That issue is fairness of the terms of the plan itself. The constitutional question is disposed of in the Merced-Corcoran ruling.
To the people of Imperial Valley, the supreme court ruling is a welcome one. It should, in the legal course of events, mean less delay before a final end is written to refunding litigation. Anything reducing possible delay in conclusion of this matter is of vital importance here.
What sub-type of article is it?
Historical Event
What themes does it cover?
Justice
What keywords are associated?
Supreme Court Decision
Irrigation District
Municipal Bankruptcy
Refunding Case
Imperial Valley
Bondholders Appeal
What entities or persons were involved?
Ralph E. Jenney
Where did it happen?
Imperial Valley
Story Details
Key Persons
Ralph E. Jenney
Location
Imperial Valley
Story Details
Supreme Court decision in Merced-Corcoran cases upholds irrigation districts' access to federal bankruptcy act, directly aiding Imperial Irrigation District's refunding by eliminating a key appeal point on constitutionality, leaving only plan fairness as potential issue; expected to speed up resolution of litigation.