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Articles 31 - 44 of 44
Full-Text Articles in Bankruptcy Law
Triumph Or Tragedy? The Bankruptcy Act Amendments Of 1966, Harold Marsh, Jr.
Triumph Or Tragedy? The Bankruptcy Act Amendments Of 1966, Harold Marsh, Jr.
Washington Law Review
Professor Marsh analyzes in detail the 1966 amendments to the Bankruptcy Act. Addressing the question whether these amendments have accomplished anything, he concludes that they have done little but complicate an already intolerably complicated statute. Although he points out many drafting failures, he particularly condemns the failure of Congress to ask or answer the underlying questions of policy—whether tax liens and state statutory liens should be given priority. Professor Marsh concludes that whatever good the amendments may do "is not worth the mess they have made."
Bankruptcy—Discharge—Effect Of False Financial Statement Upon Prior Indebtedness, Anon
Bankruptcy—Discharge—Effect Of False Financial Statement Upon Prior Indebtedness, Anon
Washington Law Review
In the 1961 case of Household Fin. Corp. v. DeShazo, the Washington Supreme Court held that section 17(a)(2) of the Federal Bankruptcy Act limited a creditor to recovery of the amount of an additional loan made in reliance upon a false financial statement, and did not permit recovery of prior indebtedness—not initially obtained by fraud—which was refinanced in the same transaction and included in the total amount of a new note.
Community Property And Divorce—Effect Of Subsequent Bankruptcy, Anon
Community Property And Divorce—Effect Of Subsequent Bankruptcy, Anon
Washington Law Review
Plaintiff, trustee in bankruptcy of defendant's former husband, brought suit in federal district court to set aside as a fraudulent conveyance a Washington court's award of community property to the defendant incident to her divorce. The district court granted summary judgment for defendant on the ground that the trustee's attack on the award depended upon the community nature of the property which had been terminated by the divorce. On appeal, the Ninth Circuit Court of Appeals reversed and remanded. Held: Because a Washington marital community is not an entity with separate legal existence, an award of community property by a …
State Wage Collection Laws: Supplementing The Bankruptcy Act, D. Mckay Snow
State Wage Collection Laws: Supplementing The Bankruptcy Act, D. Mckay Snow
Washington Law Review
The general problem to be considered here is that of the employer's insolvency and consequent inability to pay wages which have already been earned. More specifically this comment examines the various types of state legislation designed to assist employees in the collection of these earned but unpaid wages, with primary consideration directed to those statutes which enable the employee to circumvent the limitations of the federal Bankruptcy Act. State wage priority statutes are therefore not included, nor are general creditor collection devices, criminal sanctions against non-payment of wages, and laws authorizing the assignment of wage claims to an administrative agency …
Creditor's Rights—Bankruptcy—Section 70(C)—Actual Creditor Required, John S. Calvert
Creditor's Rights—Bankruptcy—Section 70(C)—Actual Creditor Required, John S. Calvert
Washington Law Review
In Pacific Finance Corp. v. Edwards the United States Court of Appeals for the Ninth Circuit interpreted § 70(c) of the Bankruptcy Act to mean that the trustee acquires the status of a hypothetical lien creditor only if there is an actual creditor who could have acquired a lien on the date of the petition in bankruptcy.
Washington Receivership, Ray Graves
Washington Receivership, Ray Graves
Washington Law Review
A full discussion of the historical development of the law of receivership, of the powers and duties of the numerous kinds of receivers, and of the advantages or disadvantages of receivership as contrasted with bankruptcy and other devices, is beyond the scope of this article. This discussion is limited to an examination of some of the rules governing appointment of general liquidating receivers in the State of Washington. Within that framework we shall examine two facets of the law, viz., (a) the sources and general rules of the law of receivership in Washington, and (b) the procedures to be followed …
Preferences As Affected By Section 60c And Section 67b Of The Bankruptcy Act, John Hanna
Preferences As Affected By Section 60c And Section 67b Of The Bankruptcy Act, John Hanna
Washington Law Review
The general problem of preferences in bankruptcy in the recent past has been more frequently and more comprehensively discussed in legal periodicals than any other bankruptcy topic. It is not the purpose of this article to supplement what has been written elsewhere on the subject of Section 60a and b. The proper concern of many members of Congress for the lamentable uncertainties of the position of many secured creditors under the present law gives some reason to hope that before this article appears an amendment to Section 60a will have been adopted, which as to personal property transfers will substitute …
The Effect Of The National Bankruptcy Code Upon The Uniform Business Corporations Act, Jennings P. Felix
The Effect Of The National Bankruptcy Code Upon The Uniform Business Corporations Act, Jennings P. Felix
Washington Law Review
The Federal Constitution provides that Congress shall have the power to establish uniform bankruptcy laws. This does not deprive the states of their power to enact insolvency laws but merely suspends the operation of such laws where enforcement would conflict with the Federal Act. Whether an insolvency statute is considered a bankruptcy act depends on whether the debtor is given an absolute discharge. The whole of the state act or merely the discharge portion may be invalid depending upon whether its other sections are inseparably interlaced with the discharge provision. If the highest court of the state declares its discharge …
Liquidation Under The Chandler Act: Bankruptcy Practice And Procedure Is Changed By Act Of Congress Effective September 22, 1938, Leopold M. Stern
Liquidation Under The Chandler Act: Bankruptcy Practice And Procedure Is Changed By Act Of Congress Effective September 22, 1938, Leopold M. Stern
Washington Law Review
In 1938 Congress enacted the Chandler Bill, which became effective September 22, 1938. Its purpose, among other things, as explained by the House Judiciary Committee report, was to clarify certain of the definitions and to add desirable new definitions, to straighten out certain overlapping provisions, to increase efficiency in administration, to make clearer certain ambiguous provisions, to improve the procedural sections of the act, and in general to modernize and bring up to date the bankruptcy law of our country. Congress went somewhat further than a mere modernization of the existing statute. It expanded the law by adding chapters on …
Some Practical Aspects Of Section 77-B Of The Bankruptcy Act, Roger L. Shidler
Some Practical Aspects Of Section 77-B Of The Bankruptcy Act, Roger L. Shidler
Washington Law Review
Generally speaking, 77-B provides that a corporation which is insolvent or unable to meet its debts as they mature, may file a petition for reorganization under the provisions of the Amendment, and may propose a Plan of Reorganization. The Plan must include provisions modifying or altering the rights of creditors generally, or of any class of them, and may include provisions modifying or altering the rights of stockholders generally. To make the Plan effective, 66 2/3% of each class of creditors affected by the Plan must file acceptances of the Plan, and if the corporation is not insolvent, 51% of …
Provability Of Claims For Future Rent Or Damages Against The Trustee In Bankruptcy Or A Receiver Of An Insolvent Tenant Upon Abandonment Of The Leased Premises, Measure Of Damages In Federal Court Receiverships., Norman M. Littell
Washington Law Review
After publication of the article' appearing under the above title in the November issue of the Law Review, a decision was handed down by the United States District Court for the Western District of Washington, Northern Division, which justifies this supplemental note written at the request of the Law Review.
Provability Of Claims For Future Rent For Damages Against A Trustee In Bankruptcy Or A Receiver Of An Insolvent Tenant Upon Abandonment Of The Leased Premises, Measure Of Damages In Federal Court Receiverships, Norman M. Littell
Washington Law Review
The large number of insolvency proceedings during the present economic period throws into relief two legal problems of vital importance to the landlord and the general creditors of the tenant. May the landlord prove a claim against the insolvent tenant's estate for the loss of future rent, or for damages due to the abandonment of the lease upon the insolvency of the tenant, and if such a claim is provable, what is the measure of damages? These problems are acute because of the present extreme deflation in rental values where the involvent's lease has an unexpired term of many years …
Suspension Of State Insolvency Laws By Operation Of The Federal Bankruptcy Act, Arthur Grunbaum
Suspension Of State Insolvency Laws By Operation Of The Federal Bankruptcy Act, Arthur Grunbaum
Washington Law Review
The Supreme Court of Washington in the recent decision of Armour & Co. v. Becker et al., has again raised a question mooted since 1819, as to the effect of the existence of a Federal Bankruptcy Act on the operation of a State Insolvency Law. Under present conditions, the problem of the availability of liquidating devices becomes peculiarly important, and warrants an analysis of the existing law on the subject. In the instant case, the plaintiff sought to recover the sum of $293.14 for goods and merchandise delivered to defendant, who was running a meat market and purchased goods until …
The "Trust Fund" Theory: A Study In Psychology, Hyman Zettler
The "Trust Fund" Theory: A Study In Psychology, Hyman Zettler
Washington Law Review
The trust fund doctrine was one of the most interesting judicial creations of the last half of the nineteenth century. It performed and still performs a very useful function, but it has suffered much from its unfortunate name. In some jurisdictions the result has been an undue curtailment of its functions; in others, an undue extension of them. The doctrine has apparently come in for its most extensive application in our own jurisdiction. Indeed, it is here reaching out for new fields. It is, therefore, important for us to know the real scope of the theory and whether it should …