Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Arrowsmith and Bauer v. Commissioner of Internal Revenue (1)
- Austrian v. Williams (1)
- Capital loss (1)
- Commissioner v. Dobson (1)
- Conflicting interpretations (1)
-
- Corporate obligations (1)
- De Champlain v. P. & R. Home Association (1)
- Delaware (1)
- Diversity of citizenship (1)
- Equitable doctrines (1)
- Erie R. R. v. Tompkins (1)
- Fifth priority (1)
- Fixed liability (1)
- Fraud (1)
- Funeral benefits (1)
- Hadden v. Barrow Wade Guthrie & Co. (1)
- Heirs (1)
- Meeting (1)
- NLRB (1)
- Nathason v. NLRB (1)
- Neirbo Company v. Bethlehem Shipbuilding Corp. (1)
- New York (1)
- Nonstock (1)
- Ordinary business loss (1)
- Partnership (1)
- Priority classification (1)
- Purely public charity (1)
- Reorganization (1)
- Reverter rule (1)
- Section 64a(5) (1)
Articles 1 - 5 of 5
Full-Text Articles in Law
Bankruptcy-Provability And Priority Of A Back Pay Award, Peter Van Domelen S.Ed
Bankruptcy-Provability And Priority Of A Back Pay Award, Peter Van Domelen S.Ed
Michigan Law Review
The NLRB entered a back pay order against the employer. Four months later, and before the order was enforced, the employer was adjudicated a bankrupt. Thereafter, the court enforced the back pay order and the NLRB filed proof of claim in the bankruptcy proceeding. The referee disallowed the claim, but on petition for review the district court set aside the referee's order and gave the claim priority over general creditors. The Court of Appeals for the First Circuit affirmed, holding (1) that the back pay award was a provable claim, under section 63a(1) of the Bankruptcy Act as a fixed …
Federal Procedure-Applicability Of State Decisional Law Interpreting State Statutes Of Limitations Under Section 11 (E) Of The Bankruptcy Act, Charles E. Oldfather S.Ed
Federal Procedure-Applicability Of State Decisional Law Interpreting State Statutes Of Limitations Under Section 11 (E) Of The Bankruptcy Act, Charles E. Oldfather S.Ed
Michigan Law Review
Plaintiff is the trustee in bankruptcy of a Virginia corporation whose petition for reorganization under chapter X of the Bankruptcy Act was approved by a Virginia federal district court in 1942. Plaintiff filed this action in a New York federal district court under section 11 (e) of the Bankruptcy Act against defendant, the principal stockholder, and others for breach of fiduciary duty. The alleged breaches of duty occurred in 1927 and 1929. The defendant pleaded the New York statute of limitations and contended that it should be applied as interpreted by New York decisions, which hold that the statute begins …
Taxation-Federal Income Tax-Status Of Payment Of Corporate Liability By Stockholder Subsequent To Liquidation, George V. Burbach S.Ed.
Taxation-Federal Income Tax-Status Of Payment Of Corporate Liability By Stockholder Subsequent To Liquidation, George V. Burbach S.Ed.
Michigan Law Review
Petitioners, from 1937 to 1940, received distributions from the liquidation of a corporation of which they were stockholders and reported the profits thus obtained, classifying them as capital gains pursuant to I.R.C., §115. In 1944, a judgment was rendered against the corporation. Petitioners, as transferees, paid the judgment and took a deduction of 100 per cent, classifying the amount paid as an ordinary business loss. The Commissioner took a contrary position, and held the payment a capital loss. The Tax Court upheld the petitioners' contention but the court of appeals reversed. On appeal, held, affirmed, three Justices dissenting. The …
Corporations-Dissolution -Rights Of Members Of Nonprofit Corporation On Distribution Of Assets, John W. Hupp S.Ed.
Corporations-Dissolution -Rights Of Members Of Nonprofit Corporation On Distribution Of Assets, John W. Hupp S.Ed.
Michigan Law Review
Defendant association was incorporated in 1921 on a nonstock basis for the purpose of maintaining a club for social enjoyment. The association never maintained such a club, however, but rather operated a plan whereby "funeral benefits" were paid to the heirs of deceased members. At a special meeting on March 7, 1946, a plan was adopted for final distribution of the assets of the association among its members "on a basis for each month a member has been a member of the association." At a subsequent meeting, the members unanimously adopted a resolution to divide the association funds among its …
Federal Procedure-Venue Of Corporations-Applicability Of 28 U.S.C. §1391(C) To Plaintiff Corporations, Charles E. Oldfather S.Ed.
Federal Procedure-Venue Of Corporations-Applicability Of 28 U.S.C. §1391(C) To Plaintiff Corporations, Charles E. Oldfather S.Ed.
Michigan Law Review
Plaintiff, trustee in bankruptcy of a Delaware corporation, brought a contract action based on diversity of citizenship in an Ohio district court. Defendant is a partnership, whose partners are all residents of states other than Delaware. Defendant moved to dismiss the action on the ground that venue was improperly laid. The court, relying on 28 U.S.C. §139I(c), held: motion to dismiss overruled. "Since the district where plaintiff is doing business . . . is the 'residence of the corporation for venue purposes,' this action may be properly maintained here [Ohio].'' Hadden v. Barrow, Wade, Guthrie & Co., (D.C. …