First American Bank & Trust Co. v. George

WEBSTER, Circuit Judge.

First American Bank & Trust Company of Bismarck, North Dakota, appeals.from an order of the District Court affirming the Bankruptcy Court’s dismissal of its petition for Chapter XI arrangement proceedings. The Bankruptcy Court1 dismissed the petition because it found that First American was a “banking corporation” and thus not entitled to the benefits of Chapter XI, since “banking corporations” are excluded from bankruptcy jurisdiction by Section 4 of the Bankruptcy Act, 11 U.S.C. § 22.

The facts pertinent to this appeal are not extensive. On February 14, 1963, First…