under a plan put together by dillon, read & co., a $165 million loan was raised to fund a 45-jet fleet. the deal which was signed on december 30, 1960 by hughes' lawyer raymond holliday, who constituted one member of a three-person voting trust, the other two members, ernest r. breech and irving s. olds, represented the financing institutions. on june 30, 1961, twa filed a federal suit against hughes, hughes tool co., and raymond holliday. then on april 18, 1962, twa filed a delaware suit against hughes and the hughes tool co. on january 10, 1973, the u.s. supreme court ruled against twa in the federal case. however, on may 15, 1986, delaware ruled in favor of twa for the state case, eventually awarding twa $48,346,000.