Source: http://www.chanrobles.com/usa/us_supremecourt/329/90/index.php
Timestamp: 2017-10-17 07:56:25
Document Index: 110302349

Matched Legal Cases: ['§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11']

AMERICAN POWER & LIGHT CO. V. SEC, 329 U. S. 90 (1946) - US SUPREME COURT DECISIONS ON-LINE
US Supreme Court Decisions On-Line> Volume 329 > AMERICAN POWER & LIGHT CO. V. SEC, 329 U. S. 90 (1946)
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In a proceeding instituted by the Commission under § 11(b)(2), the Commission found, after notice and hearing, that the corporate structure and continued existence of petitioners, two subholding companies in a holding company system, unduly and unnecessarily complicated the structure of the system and unfairly and inequitably distributed voting power among the security holders of the system, in violation of the standards of § 11(b)(2). The Commission thereupon entered orders requiring the dissolution of both petitioners and requiring chanroblesvirtualawlibrary
(b) Necessity fixes a point beyond which it is unreasonable and impracticable to compel Congress to prescribe detailed rules. It chanroblesvirtualawlibrary
(a) It is not the function of the Court to reweigh the factors considered b90/case.php#106">329 U. S. 106-108.
5. The record amply supports the Commission's findings that the corporate structures and continued existence of petitioners unduly and unnecessarily complicate the holding company system in which they are subholding companies, and unfairly and inequitably distribute voting power among the security holders of that system. Pp. 329 U. S. 108-112. chanroblesvirtualawlibrary
7. When the hearings in the proceedings instituted against the petitioners by the Commission under § 11(b)(2) had been in progress for more than a year and the record was approaching completion, petitioners moved to consolidate applications for approval of plans filed by them under § 11(e), designed to adjust the companies to the standards of § 11(b)(2) without the necessity of dissolution. chanroblesvirtualawlibrary
In a proceeding under § 11(b)(2) of the Public Utility Holding Company Act of 1935, the Securities & Exchange Commission entered orders requiring the dissolution of petitioners and requiring them to submit plans for the effectuation of the orders. 11 S.E.C. 1146. The Circuit Court of Appeals sustained the orders. 141 F.2d 606. This Court granted certiorari. 325 U.S. 846. Affirmed, p. 329 U. S. 121. chanroblesvirtualawlibrary