Bankruptcy Law Commons^™

Exemption Of Insurance And Other Property In The Virginias And Carolinas, E. Mcgruder Faris, Jr.

Washington and Lee Law Review

No abstract provided.

Comments, Various Editors

Villanova Law Review (1956 - )

No abstract provided.

Recent Cases, Law Review Staff

Vanderbilt Law Review

Antitrust Act--Discriminatory Practices--Defenses Available to Charge of Discrimination in Furnishing Services and Facilities

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Bankruptcy--Priority of Wages--Employer's Contributions to Welfare Funds Are Not Entitled to Priority as Wages Due to Work

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Constitutional Law--Social Security Benefits--Automatic Suspension of Deported Person's Social Security Benefits a Denial of Due Process

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Constitutional Law--Union Shop Agreement Under Railway Labor Act Violates Constitutional Rights of Employees

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Corporations--Securities and Exchange Act of 1934--Liability of Director for Profits on Stock Acquired Prior to Election as Corporate Official

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Damages--Quasi Contract--Exemplary Damages in Quasi Contract When Defendant is Guilty of Fraud

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Evidence--Other Crimes--Admissibility of Evidence …

Creditors' Rights And Security Transactions--1959 Tennessee Survey, Forrest W. Lacey

Vanderbilt Law Review

There were few cases of interest in the period under survey. Rone Jewelry Company v. Conley' presented the question of what constitutes "willful and malicious injuries to the property of another" within the meaning of section 17 of the Bankruptcy Act. A debt of this character is not released by a discharge in bankruptcy.

In the instant case the defendant had purchased silverware and a ring from plaintiff under a title retention contract. Defendant then sent the property to his mother in New Jersey. Following a discharge in bankruptcy granted to the purchaser, the seller brought action against the purchaser.

Bankruptcy--Section 70c--Recent Reactions To Constance V. Harvey, George Sidney Buchanan Jr.

Michigan Law Review

Renewed interest in section 70c has developed recently, primarily because of several significant decisions in the federal courts. It is the purpose of this comment to consider the impact of these developments on the power of the trustee to avoid otherwise valid security devices.

Debtor's Exemption Laws: Time For Modernization, G. Stanley Joslin

Indiana Law Journal

No abstract provided.

Bankruptcy - Tenancy By The Entireties - Creditors's Right Against Entry Property After Discharge Of Husband In Bankruptcy, E. Roger Frisch

Michigan Law Review

The United States as assignee sought a joint judgment on four unsecured promissory notes signed by the defendants, who are husband and wife. The husband had filed in bankruptcy before the assignment of the notes to plaintiff and was discharged from all debts filed in the bankruptcy proceeding schedules (including the instant debt) prior to any action on these notes. His estate by the entireties, however, was not used to satisfy any listed debts. Held, plaintiff is entitled to proceed to judgment. A discharge in bankruptcy limits only the sources available for satisfaction. United States v. Fetter and Fetter …

United States - 86th Congress, 1st Session - Bankruptcy - Determination Of Dischargeability By Courts Of Bankruptcy, John J. Cleary

Villanova Law Review (1956 - )

No abstract provided.

Bankruptcy - Priorities - Status Of Employer Contributions To Union Welfare Fund, John W. Simpson

Michigan Law Review

Under a collective bargaining agreement an employer was required to contribute eight dollars monthly to a union welfare fund for each of its employees who were union members. A trust agreement authorized the trustees of this fund to file claims of priority in any proceeding involving the employer's insolvency. In a bankruptcy proceeding the trustees of the fund sought priority as wage claimants for the employer's unpaid contributions to the fund which had accrued during the three months prior to bankruptcy. In the same proceeding the United States sought priority for unpaid taxes. The referee ruled that the unpaid employer …

Recent Decisions, Various Editors

Villanova Law Review (1956 - )

No abstract provided.

Recent Decisions, Various Editors

Villanova Law Review (1956 - )

No abstract provided.

Recent Cases, Law Review Staff

Vanderbilt Law Review

Automobiles--Owner's Liability Statutes--Application to the Master-Servant Relationship

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Bankruptcy--Discharge--Failure of Creditor to Inform Bankruptcy Court of Bankrupt's Fraud in Procuring Loan

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Bills and Notes--Demand Instruments--Time When Statute of Limitations Begins to Run

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Bills and Notes--Holder in Due Course--Giving a Check in Exchange for Another Negotiable Instrument is not the Giving of Value When the Check Turns Out to be Worthless

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Constitutional Law--Due Process of Law--Use of Perjured Testimony and Suppression of Material Evidence Favorable to Accused in State Criminal Proceedings

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Constitutional Law--Equal Protection of the Laws--Executory Interest Conditioned upon Racial Restriction on Use of Land

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Bankruptcy - Priorities - Priority Status Of Tax On Wages Earned But Unpaid At Time Of Bankruptcy, John F. Powell

Michigan Law Review

The State of California demanded that a trustee in bankruptcy pay the employer's tax due on wages earned by the employees of the bankrupt. The wages were earned within the three-month period prior to the petition in bankruptcy but had not been paid prior to bankruptcy. The trustee did not continue the operation of the bankrupt's business. The United States district court reversed the Referee and ordered the trustee to pay the tax claim. The court of appeals affirm. ed. On rehearing, held, affirmed. Since the tax is not due until the wages are actually paid, the tax accrues …

State Taxation Of Bankruptcy Liquidations: Federalism Misconceived, Neil S. Hecht

Faculty Scholarship

ONCE viewed as immune property within the custody of the federal sovereign, a bankrupt's estate is now generally subject to the same state and local taxes as are the property and activities of an individual. Judicial recognition that government services subsidized by state property taxes were ratably extended to property in the hands of the bankruptcy trustee engendered the initial inroad on this immunity. Subsequent federal legislation relegates agents or officers conducting businesses by authority of United States courts to the status of private parties for purposes of taxation. However, some courts have denied the imposition of state and local …

Book Reviews, Frank R. Kennedy, William G. Rice, Clyde Eagleton, William E. Britton, Bernard D. Meltzer, Harry Kalven Jr.

Journal of Legal Education

No abstract provided.

Creditor's Rights - Fraudulent Conveyances - Security Assignment Of Contract Payments Void If Assignor Retains Control, John A. Beach S.Ed.

Michigan Law Review

An insolvent debtor, who owed some $3,500 on plaintiff's partially-collected judgment, executed an instrument assigning to another creditor, a bank, all moneys due and to become due to the debtor under an existing contract, expressly as security for payment of the debtor's present and future indebtedness to the bank. The contract obligor was notified of the assignment, and thereafter the bank collected the amounts periodically accruing under the contract. The bank applied part of these collected amounts to the balance that the debtor owed the bank. The rest was either handed over to the debtor or credited to his general …

Corporations - Promotion - Discharge Of Promoter's Liability As Bidder At A Bankruptcy Sale, John Morrow

Michigan Law Review

On October 1, defendant made the high bid at a bankruptcy sale of hotel properties as "Mr. Ash, trustee." Later that same day a certificate of incorporation was executed for a corporation with Ash as treasurer. On October 4 the proper corporate papers were filed with the secretary of state. On October 4 the receivers receipted for the earnest money deposit, the instrument acknowledging, as interpreted by the court, that the receivers would look to the corporation to complete the contract and would not look to Mr. Ash personally. On October 14, the referee confirmed the sale to "Mr. Ash, …

Bankruptcy Act: Abuse Of Sections 14(C) (3) And 17(A) (2) By Small Loan Companies

Indiana Law Journal

No abstract provided.

Section 4 Of The Bankruptcy Act: The Excluded Corporations, Michael I. Sovern

Faculty Scholarship

Section 4 of the Bankruptcy Act excludes from both voluntary and involuntary bankruptcy municipal, railroad, insurance and banking corporations and building and loan associations, and excludes from involuntary bankruptcy corporations that are not "moneyed, business or commercial." The exclusion of railroad and municipal corporations lost much of its significance when special reorganization provisions were enacted for those corporations. Insurance and banking corporations and building and loan associations, on the other hand, are excluded from the Bankruptcy Act's corporate reorganization chapters as well as from straight bankruptcy; and creditors can no more compel a corporation that is not moneyed, business or …

Bankruptcy - Limitations On Availability To Corporations Of Arrangement Proceedings, Hazen V. Hatch S.Ed.

Michigan Law Review

General Stores Corporation filed a chapter XI petition for an arrangement of its unsecured debts, none of which were publicly held debentures, as allowed by section 322 of the Bankruptcy Act. The debtor corporation's capital account consisted of over two million outstanding shares of common stock. held by 7,000 stockholders and traded on the American Stock. Exchange. A shareholder and the SEC moved under section 328 that the petition be dismissed unless amended to comply with chapter X of the Bankruptcy Act, calling for reorganization. The district court granted the motions, and its action was affirmed by the court of …

Bankruptcy From A Family Law Perspective, G. Stanley Joslin

Vanderbilt Law Review

The points at which family interests are involved in the usual bankruptcy proceeding are many. Some are quite obvious, as dower rights of the wife, alimony claims, or intra-family concealments. Others are less conspicuous but no less potent, as exclusion of relatives and spouses from certain rights, post-bankruptcy inheritances, cryptic exemption rights or evidentiary obligations. The scope here will not be limited to the traditional academic "Family Law" concept but will include that wider sphere where husbands, wives, and children are actually and vitally concerned in a bankruptcy involving one of them. Not only are the advantageous rights to be …

Taxation - Liens -Priority Of A Subsequent Federal Tax Lien Over An Antecedent Inchoate Lien, John B. Huck S.Ed.

Michigan Law Review

The purpose of this comment is to analyze the rationale, in terms of both statutory construction and policy, of the theory that only a choate garnishment lien is superior to a subsequent tax lien.

Bills And Notes-Discharge-Intentional Destruction Due To Mistake As A Discharge, Richard S. Weinstein S.Ed.

Michigan Law Review

The holder of sixteen bonds issued by defendant destroyed the bonds believing them to be worthless after they had been in default as to both principal and interest for six years. Ten years later the defendant went into bankruptcy for reorganization and the holder learned that under the plan of reorganization the bonds were exchangeable for $400 in cash and $600 in preferred stock. When defendant refused to recognize the indebtedness even though the holder tendered an indemnity bond against wrongful payment, the holder instituted suit to recover the value of the bonds. The lower court denied relief to the …

Creditors' Rights And Security Transactions -- 1955 Tennessee Survey, Paul J. Hartman

Vanderbilt Law Review

Application to Bankruptcy Proceedings of Federal Rules Concerning Compulsory Counter Claims: In Meacham v. Haley' the Tennessee Court of Appeals was faced with the problem of to what extent Rule 13 of the Federal Rules of Civil Procedure concerning compulsory counter claims applies to a bankruptcy proceeding. In the instant case a trustee in bankruptcy of the Dr. Pepper Bottling Company sued the defendants, Haley and Johnston, for alleged fraud practiced on the bankrupt debtor prior to the bankruptcy. However, some time before the present case, Haley and Johnston had filed claims in the bankruptcy matter of Dr. Pepper Bottling …

Business Associations -- 1955 Tennessee Survey, Paul J. Hartman

Vanderbilt Law Review

Nature and Formation of Partnerships: The question whether a contract sued on was a partnership arrangement so as to be cognizable only in equity was considered by the Tennessee Court of Appeals in Powel v. Bundy.' There Bundy, a real estate broker, sued Powell on the lawside to recover $500, alleged to be plaintiff's one-half share of a commission earned by their joint efforts in selling a tract of real estate, but which commission had been collected and wrongfully retained by defendant. Among other defenses interposed was defendant's contention that the contract sued on was that of a partnership arrangement …

Bankruptcy-Dischargeability Of Bankrupt's Liability For Personal Injuries Caused By Reckless Driving (Federal)

Washington and Lee Law Review

No abstract provided.

Bankruptcy-Test Of Feasibility Under Chapter Xi Arrangement, Paul B. Campbell S.Ed.

Michigan Law Review

The Slumberland Bedding Company started in business in 1952 with a capitalization of $13,000. Within less than one year the corporation was "clearly heavily insolvent," having debts in excess of $85,000 and assets valued "at least several thousand dollars less than $42,250." Preferred creditor claims against the assets of the business amounted to more than $32,200. In this rather dismal context a petition for an arrangement under chapter XI of the Bankruptcy Act was filed. A plan was submitted which provided for independent capital to be put into the business to pay certain claims in full and to pay a …

Recent Cases, Law Review Staff

Vanderbilt Law Review

Recent Cases

Bankruptcy--Acts of Bankruptcy--Petition for Dissolution under State Statute

Corporations--Stockholders' Derivative Suits--Equitable Stockholder's Rights under Security Statute

Criminal Law--Evidence--Immunity Statutes

Criminal Procedure--Grand Jury Indictments--Failure of Jurors to Hear All the Evidence as Grounds for Setting Aside Indictment

Domestic Relations--Torts--Action by Wife against Husband for Personal Injuries

Federal Jurisdiction--Scope of Federal Common Law--Characterization of Foreign Statute for Purpose of Applying Federal Constitution

Labor Law--Unfair Labor Practice--Intent to Encourage or Discourage Union Membership by Discrimination

The 1950 Amendment To The Preference Section Of The Bankruptcy Act And Maryland Law, Bridgewater M. Arnold

Maryland Law Review

No abstract provided.

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 …