United States v. Snyder Brothers Company

The majority opinion is anchored to two premises which I conceive to be misconceptions of the law, and therefore I respectfully dissent.

The misconceptions mentioned are expressed in the following language:(a) “The difficulty here is that this is not simply a case of an attempt to create a.debt relationship between the sole stockholders and their corporation, nor is it simply a case of a debenture being subordinated to other creditors. It is both of these things.”(b) “It is plain, as the government points out, that the holders of the ‘debentures’ are practically helpless if the Snyder Bros.…