Salt Lake Telegram | 1934-06-05 | Page 5 | Western L. & B. Decision Given

WESTERN t. t L 8 d. d DECISION GIVEN Permit ermit to Resume Business as Reorganized Concern Concern Con Con- Concern cern Granted Permission lon for the Western L Loan an anand and nd Building company to resume business business business busi busi- ness as a reorganized concern and for forJohn forJohn forJohn John A. A Malia Malls state bank commissioner commis- commis ioner to return to the firm assets under inder his hLo had been n ranted granted Tuesday b by Judge Herbert M. M Schiller of Third district court Similar action in like cases pending In n California and md Oregon will open the way vay toward operation of the zed company which is expected by July 1 In his Ius decision Judge Schiller permitted per pc- Mr Malia to return assets in I IUlah Utah Ulah Idaho Nevada Wyoming Montana Mon Mon- tana ana and Washington over over which he helas has las held since August Au gust 17 1933 Separate conservator conservator- ships are being exercised in Califor Califor- and Ore Oregon on Judge Schiller's formal decree findings of ot fact act and c conclusions o of law aw will be entered during the week His decisions denied petitions of Mrs Edna Sullivan Rock Springs Wyo and ind J. J B B. B Walker Salt SaIl Lake City seeking to restrain Mr Malia Malta from rom returning assets The decisions Jn in effect hold tHat tha Mrs Sullivan as a reserve serve stockholder er does not have e the right to enjoin the reorganization voted by 80 pe per percent percent cent of or the investment stockholders stockholders- that hat the reorganization conforms t to Utah law that the statute permitting reorganization Is constitutional an and tha that hat t the reorganization protects al all all inter interests st st. and does docs not violate tural rights of the protestants