Bankruptcy Law Commons^™

Federal Tax Liens In Bankruptcy

Washington and Lee Law Review

No abstract provided.

Bankruptcy--Rights And Powers In Chapter Xiii, John T. Copenhaver Jr.

West Virginia Law Review

An understanding of the rights and powers of the various parties involved in a Chapter XIII proceeding is not easily had. The statutory language is somewhat windblown, sometimes confused and frequently ambiguous. Reported decisions in Chapter XIII cases are few. However, Chapter XI, dealing with arrangements, and Chapter XIII, dealing with wage earner plans, contain many identical or quite similar provisions, so that an interpretation of one of the chapters often has significance as authority for a like position under the other chapter. Where such is the case, reference will be made to cases decided under or a treatise on …

Recent Cases, Law Review Staff

Vanderbilt Law Review

Antitrust--Robinson-Patman-Adoption of Physical Comparison Test To Determine "Like Grade or Quality"

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Antitrust--Tying Arrangement Held Unfair Method of Competition Under Section 5 of Federal Trade Commission Act Atlantic Refining Company agreed to promote

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Bankruptcy--Tax-Rights of a Trustee in Bankruptcy Against an Unrecorded Tax Lien

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Constitutional Law--Applicability of the Fourteenth Amendment to a Charitable Trust in Which a State Agency Was the Original Trustee

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Constitutional Law--Clandestine Surveillance of Public Toilet--Not an Unreasonable Search

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Criminal Law--Joint Trials--Admission of Confession Implicating Both Defendants Held Erroneous

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Evidence--No Cross-Examination of Defendant's Character Witnesses as to His Prior Arrests and Conviction …

The Trustee And The N.L.R.B. - The Administration Of Labor Contracts In Straight Bankruptcy And Corporate Reorganization, S. Strother Smith Iii, Allan Zaleski

William & Mary Law Review

No abstract provided.

Bankruptcy - Tax - Validity Of Unrecorded Federal Tax Lien Against Trustee In Bankruptcy. United States V. Speers, 86 S. Ct. 411 (1965), F. Prince Butler

William & Mary Law Review

No abstract provided.

The Relative Priority Of Small Business Administration Liens: An Unreasonable Extension Of Federal Preference?, Ronald L. Olson

Michigan Law Review

During the past three decades, the priority of the federal government as against state and private creditors competing for the assets of debtors has been greatly strengthened. In terms of relative growth, the expansion of federal priority has been comparable to the increased commercial involvement of the United States. In more recent years, Congress and the judiciary have recognized that this increased governmental commercial activity necessitates a restriction in sovereign prerogatives. However, contrary to this general trend toward the contraction of sovereign prerogatives and for reasons appearing unsatisfactory to most commentators, the "sovereign prerogative" of priority to the assets of …

Bankruptcy--Bank Paying Depositor's Check After His Adjudication In Bankruptcy Is Liable To Trustee For Amount Of Check--Bank Of Marin V. England, Michigan Law Review

Michigan Law Review

Prior to filing a voluntary petition in bankruptcy, which is an automatic adjudication of bankruptcy, depositor delivered five checks to Eureka Fisheries drawn upon depositor's account in appellant Bank of Marin. Six days after the filing, Eureka Fisheries presented the checks to appellant and received payment. Appellee, depositor's trustee in bankruptcy, did not notify appellant of the bankruptcy proceedings until after appellant had honored the checks. An order was sought by appellee from the referee in bankruptcy requiring appellant, or in the alternative Eureka Fisheries, to return the amount of the honored checks to the bankrupt's estate. The referee issued …

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.

Creditor's Rights And Security Transactions -- 1964 Tennessee Survey, Forrest W. Lacey

Vanderbilt Law Review

The Bankruptcy Act gives the trustee, as of the date of bankruptcy,the rights of a lien creditor whether or not such creditors actually exist." Yet, the rights of such a lien creditor and his status relative to other conflicting interests are determined by state law. Under Tennessee law encumbrances on automobiles, other than liens dependent on possession, must be noted on the certificate of title to be valid against creditors, purchasers or encumbrancers in the absence of actual knowledge.' In the instant case, although the encumbrance was noted on the bill of sale, it was not noted on the title …

Abstracts Of Recent Cases, Ralph Judy Bean Jr.

West Virginia Law Review

No abstract provided.

The Problem Of Consumer Bankruptcy: Is Amendment Of The Bankruptcy Act The Answer?, Michigan Law Review

Michigan Law Review

The question of whether the current frequency of consumer bankruptcy is a necessary function of consumer credit remains unanswered. The burgeoning number of consumer bankruptcies in a period of unparalleled national prosperity suggests fundamental weaknesses in the credit-oriented economy. Bankruptcy filings, now numbering nearly 172,000 annually, have trebled over the past decade. For twelve consecutive years the number of petitions filed has exceeded that of the prior year. Nonbusiness bankruptcies, most of which offer no assets for distribution, constitute ninety per cent of all filings.

Withholding Taxes On Wage Dividends For Pre-Bankruptcy Wages Assigned To Fourth Priority In Distribution Of Bankrupt's Estate-In Re Connecticut Motor Lines, Inc., Michigan Law Review

Michigan Law Review

Among claims against a bankrupt estate were those for unpaid wages and vacation pay earned within three months of the bankruptcy of the employer. The referee ordered distribution of the amount of the claims, assigning them second priority, but he refused to authorize deduction of income withholding tax and social security taxes from these payments as requested by the Government. The district court reversed, holding the trustee in bankruptcy liable for the taxes as a first priority administrative expense. On appeal, held, reversed. Taxes based on wage claims accruing prior to bankruptcy but paid during bankruptcy are section 64a(4) …

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 …

Bankruptcy - Attorney's Fees Under The 1963 Amendment To 860(D) Of The Bankruptcy Act. Levin And Weintraub V. Rosenberg, 330 F.2d 98 (2d Cir. 227 1964), David Beach

William & Mary Law Review

No abstract provided.

William 0. Douglas -- His Work In Policing Bankruptcy Proceedings, John W. Hopkirk

Vanderbilt Law Review

William 0. Douglas, while associated with the Securities and Exchange Commission during the mid-nineteen thirties, was responsible for a study of methods and procedures of corporate reorganization. By examining this area of Douglas' work, we can compare the position on corporate reorganization which the Justice developed as an administrative official for the New Deal with his later consideration of the same problems as a member of the Supreme Court of the United States. Through this comparison we can observe a number of basic attitudes which were manifested by Douglas both before and since he has joined the Court. Important among …

Federal Priority Statute Gives United States Nontax Priority In Chapter X Corporate Reorganizations-United States V. Anderson, Michigan Law Review

Michigan Law Review

In a proceeding under Chapter X of the Bankruptcy Act for the reorganization of an insolvent corporation, the United States claimed first priority for nontax debts under the federal priority statute, Revised Statutes § 3466. The trustee of the corporation contested the claim to priority on the ground that section 199 of Chapter X, which in effect provides the United States in Chapter X proceedings with priority only for tax and customs claims, is exclusive and therefore R.S. § 3466 does not apply. The district court denied the claim to priority. On appeal to the Court of Appeals for the …

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 …

Cases And Materials On Debtor And Creditor, By Vern Countryman, Douglass Boshkoff

Indiana Law Journal

No abstract provided.

State Priority To Sales Tax Proceeds In Bankruptcy

Indiana Law Journal

No abstract provided.

A Survey Of The Fraudulent Conveyance In Bankruptcy, Paul J. Hartman

Vanderbilt Law Review

No debtor should be permitted to conceal or dispose of his property for the purpose of preventing his creditors from satisfying their legal claims. In ethical terms which have become classic, a debtor should be just to his creditors before he can rightfully be generous with his property for the benefit of others. The original and primary purpose of bankruptcy legislation has been, and continues to be, a just distribution of the bankrupt's property among his creditors.

To help effectuate the purpose of bankruptcy legislation, the fraudulent conveyance is of major importance in three distinct respects. In the first place, …

Bankruptcy-Prior Discharge Within Six Years As Bar To Wage Earner's Extension Plan, Anthony Lynch

Michigan Law Review

Appellant, a debtor, sought confirmation of a wage earners' extension plan pursuant to Chapter XIII of the Bankruptcy Act. Section 656 prohibits confirmation of a plan under Chapter XIII if the debtor would have been denied an ordinary discharge in bankruptcy had he been seeking one. A discharge within six years prior to the date of filing constitutes a bar to such discharge. The referee, finding that the debtor had obtained a discharge within six years, dismissed the proceedings. On appeal from the district court's affirmance, held, affirmed. Since a wage earner's extension plan clearly contemplates a discharge of …

Abstracts Of Recent Cases, Boyd Lee Warner Ii

West Virginia Law Review

No abstract provided.

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.

Bankruptcy-Proof And Allowance Of Claims-Reopening Of Estate To Allow Creditors To Reach Tenancy By The Entirety, Robert V. Seymour

Michigan Law Review

Husband (H) and wife (W) executed joint, unsecured promissory notes to each of two creditors, a realty company, and a bank. H, in default on both notes, filed a voluntary petition in bankruptcy. The petition listed both noteholders as creditors; in addition, the schedule of assets noted that an interest in an estate by the entirety held by the bankrupt was not an asset of the bankrupt estate, since under state law it was not subject to the claims of creditors of only one spouse. After the first meeting of creditors, an order of discharge …

False Financial Statements And Bankruptcy Discharges

Washington and Lee Law Review

No abstract provided.

Debtor Exemptions In Personal Property--Proposals For Modernization, Paul D. Gudgel

Kentucky Law Journal

No abstract provided.

Bankruptcy--Statutory Bar To Habitual Discharge Not Applicable To Chapter Xiii Wage Earner Plan, Joseph T. Burch

Kentucky Law Journal

No abstract provided.

Abstracts Of Recent Cases, Thomas Richard Ralston

West Virginia Law Review

No abstract provided.

Bankruptcy-Fradulent Transfers-Venue For Plenary Actions Under Section 70(E), Martin B. Dickinson Jr.

Michigan Law Review

Plaintiff trustee in bankruptcy brought a plenary action under section 70(e) of the Bankruptcy Act in the Federal District Court for the Northern District of Illinois for recovery of fraudulently transferred property located within the district. The defendants were citizens of Illinois, except the bankrupt's daughter, a California citizen. The district court granted the daughter's motion to dismiss for lack of venue. On appeal, held, reversed and remanded. Sections 23(b) and 70(e)(3) of the Bankruptcy Act exclude actions under section 70(e) from the requirements of the general venue provision of Title 28, U.S.C.; in all cases under section 70(e) …

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 …