Commonwealth Trust Co. v. Reconstruction Finance Corp.

SCHOONMAKER, District Judge.

Defendant has moved to transfer this case to the law side of this court, urging as a reason for such transfer, that the plaintiff has a plain, adequate and complete remedy at law. The plaintiff is the trustee in bankruptcy of the Colonial Iron Company, which placed the defendant, Reconstruction Finance Corporation, in possession of some 4896.38 tons of pig-iron under the terms of an agreement between the Colonial Iron Company and the Reconstruction Finance Corporation, dated April 6, 1937. The plaintiff seeks a decree in equity, declaring this agreement fraudulent…