Bank of Marin v. England

The Court, in its haste to alleviate an indisputable inequity to the bank, disregards, in my opinion, both the proper principles of statutory construction and the most permanent interests of bankruptcy administration. I must dissent.1

The Act itself is unambiguous. Section 70a vests title to the bankrupt's property in the trustee “as of the date of the filing of the petition.” 52 Stat. 879, 11 *104U. S. C. § 110 (a). Section 70d nonetheless sustains bona fide transfers of the property made after filing and “before adjudication or before a receiver takes possession . . . whichever first occurs. . .…