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Articles 1 - 6 of 6
Full-Text Articles in Law
Bankruptcy-Corporate Reorganization-Power Of Court To Order Interim Payments While Petition Is Pending Under Chapter X Of Bankruptcy Act, William F. Snyder S.Ed.
Bankruptcy-Corporate Reorganization-Power Of Court To Order Interim Payments While Petition Is Pending Under Chapter X Of Bankruptcy Act, William F. Snyder S.Ed.
Michigan Law Review
A petition for reorganization was filed, pursuant to Chapter X of the Chandler Act, October 3, 1947, which was adjudged on the same day to be in good faith and within the terms of the act. The corporation was clearly solvent, in the sense that its assets exceeded its liabilities, but needed financial adjustment to meet the principal on outstanding income notes due the following June. Thereafter, and before a plan was approved, the court entered an order directing the trustee of the debtor to pay 6% to the holders of the first mortgage bonds as an interim distribution to …
Bankruptcy-Limitation Of Actions By Trustee As Affected By Section Ll(E) Of The Federal Bankruptcy Act, David H. Armstrong S.Ed.
Bankruptcy-Limitation Of Actions By Trustee As Affected By Section Ll(E) Of The Federal Bankruptcy Act, David H. Armstrong S.Ed.
Michigan Law Review
Trustee in bankruptcy sued to recover a preference voidable under a state statute which also provided that an action to recover such a preference must be commenced within six months after application for a trustee. The present suit was commenced one year after the bankruptcy petition was filed. Defendant moved to dismiss for failure to comply with statutory limitations. Held, motion denied. Section II(e) of the Bankruptcy Act supersedes the state statute of limitations in this case. Engstrom v. De Vos, (D.C. Wash. 1949) 81 F. Supp. 854.
Bankruptcy-Status Of Claims In Bankruptcy Proceeding Following Default In Chapter Xi Arrangement, Myron J. Nadler S.Ed., L. B. Lea S.Ed
Bankruptcy-Status Of Claims In Bankruptcy Proceeding Following Default In Chapter Xi Arrangement, Myron J. Nadler S.Ed., L. B. Lea S.Ed
Michigan Law Review
A significant question arising under the Bankruptcy Act of 1938 which has not been satisfactorily dealt with by the statute is the relative status, in a bankruptcy proceeding precipitated by the debtor's default under the terms of a chapter XI arrangement, of claims of creditors participating in the arrangement and of those who became creditors after confirmation. Specifically, the problem is whether the old creditors, those who participated in the arrangement, can prove to the amount of their original claims, or merely to the extent of their claims as scaled down by the terms of the arrangement; and whether the …
Bankruptcy-Jurisdiction Of Bankruptcy Court To Determine Stockholders' Vote Necessary To Approve Proposed Sale Of Corporation's Assets To Debtor In Reorganization, Bernard Goldstone S. Ed.
Bankruptcy-Jurisdiction Of Bankruptcy Court To Determine Stockholders' Vote Necessary To Approve Proposed Sale Of Corporation's Assets To Debtor In Reorganization, Bernard Goldstone S. Ed.
Michigan Law Review
Lessee railroad, which had leased and operated property of lessor railroad for many years, entered reorganization under section 77 of the Bankruptcy Act. Under the plan of reorganization promulgated by the Interstate Commerce Commission and approved by the bankruptcy court, lessor was given the alternative of selling its property to the reorganized railroad or having the lease disaffirmed by the debtor and its property returned. This proposal was submitted for acceptance by a majority vote of lessor's stockholders. Respondents, stockholders of lessor, sought an injunction in a state court of Georgia to restrain lessor's officers from certifying the acceptance in …
Bankruptcy-Jurisdiction Of Bankruptcy Court To Determine Attorneys' Fees For Services Rendered In Chapter X Reorganization Proceedings, Bernard Goldstone S. Ed.
Bankruptcy-Jurisdiction Of Bankruptcy Court To Determine Attorneys' Fees For Services Rendered In Chapter X Reorganization Proceedings, Bernard Goldstone S. Ed.
Michigan Law Review
A committee for preferred stockholders entered into an agreement with petitioners, wherein it was provided that certain shares of stock of the debtor corporation, placed in escrow with the committee by four preferred shareholders, would be delivered to petitioners as added compensation for their services in the reorganization proceeding. Pursuant to this agreement petitioners performed valuable services connected with the reorganization. The bankruptcy court allowed petitioners $37,500 from the debtor's estate, but held it had no jurisdiction to pass on the amount of the allowance which should be paid under the escrow agreement. Petitioners then sued in a state court …
Future Interests - Powers Of Appointment- Effect Of Bankruptcy Of Donee Of General Testamentary Power, Albert B. Perlin, Jr.
Future Interests - Powers Of Appointment- Effect Of Bankruptcy Of Donee Of General Testamentary Power, Albert B. Perlin, Jr.
Michigan Law Review
By her will, X established a spendthrift trust, appointing Y and a trust company as co-trustees. In addition to receiving the income from the trust during his life, Y was given a general testamentary power to appoint the corpus; in default of appointment the corpus was to be divided equally among Y's issue. After X's death Y filed a voluntary petition in bankruptcy, listing the above interest as that of a beneficiary of a spendthrift trust, "value none." Before Y's death the trustee in bankruptcy purported to sell to plaintiff, who was not a creditor of Y …