Holmberg v. Armbrecht

CLARK, Circuit Judge.

This appeal presents the interesting question of the applicability of a state statute of limitations to a federally created equitable right. The District Court held that as to “a bill in equity” “the state statute of limitations is not recognized law in this court,” citing Russell v. Todd, 309 U.S. 280, 60 S.Ct. 527, 84 L.Ed. 754, and York v. Guaranty Trust Co., 2 Cir., 143 F.2d 503. Decision of this appeal was delayed to await the Supreme Court’s review of the latter case; and upon its reversal by Guaranty Trust Co. v. York, 65 S.Ct. 1464, June 18, 1945, the parties…