Caplin v. Marine Midland Grace Trust Co.
406 U.S. 416 (1972)

Annotate this Case

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

No. 70-220

Argued March 28, 1972

Decided May 22, 1972

406 U.S. 416

Syllabus

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.

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