Caplin v. Marine Midland Grace Trust Co. - 406 U.S. 416 (1972)
U.S. Supreme Court
Caplin v. Marine Midland Grace Trust Co., 406 U.S. 416 (1972)
Caplin v. Marine Midland Grace Trust Co. of New York
Argued March 28, 1972
Decided May 22, 1972
406 U.S. 416
Petitioner, the trustee of Webb & Knapp, Inc., under Chapter X of the Bankruptcy Act, does not have standing to assert, on behalf of holder of debentures issued by Webb & Knapp, claims of misconduct by an indenture trustee. Pp. 406 U. S. 417-435.
439 F.2d 118, affirmed.
MARSHALL, J., delivered the opinion of the Court, in which BURGER, C.J., and STEWART, POWELL, and REHNQUIST, JJ., joined. DOUGLAS, J., filed a dissenting opinion, in which BRENNAN, WHITE, and BLACKMUN, JJ., joined, post, p. 406 U. S. 435.