In Re Riggi Bros. Co.
Court of Appeals for the Second Circuit
Riggi Bros. Co., Inc., a New York corporation doing business in Vermont, filed its voluntary petition in bankruptcy on the 8th day of November, 1926, in the District Court for the District of Vermont, and was duly adjudicated a bankrupt. A trustee in bankruptcy was elected and qualified.
Read the full summary
Riggi Bros. Co., Inc., a New York corporation doing business in Vermont, filed its voluntary petition in bankruptcy on the 8th day of November, 1926, in the District Court for the District of Vermont, and was duly adjudicated a bankrupt. A trustee in bankruptcy was elected and qualified. On April 13, 1929, the court, after notice and hearing, approved a compromise agreement the trustee had made with three banks who claimed to be in part secured creditors by virtue of a chattel mortgage covering certain property of the bankrupt given to one of them as trustee. At the time the compromise…
1Opinion of the CourtChase, Circuit Judge
(after stating the facts as above).
The approval of this compromise settlement is not to be tested wholly by what may now be thought would have been the result of litigation to settle the respective claims of the parties. It is certain that litigation for that purpose would have been the inevitable result of a failure to compromise and equally certain that it would have’ made for delay and expense. This should be kept in mind in reviewing the approval of the compromise. Petition of Stuart (C. C, A.) 272 F. 938-941. Coupled with the certainty of litigation was the uncertainty of its result and…
2Cases cited15 opinions
- Thompson v. FairbanksSupreme Court of the United States · 1905
- Humphrey v. TatmanSupreme Court of the United States · 1905
- Black v. EllisAppellate Division of the Supreme Court of the State of New York · 1908
- Karasik v. People's Trust Co.District Court, E.D. New York · 1917
- Stoddard v. Van BussumNew Jersey Court of Chancery · 1898
10 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- City of Detroit v. Grinnell Corporation, Manhattan-Ward, Incorporated v. Grinnell Corporation, 1225 Vine Street Building, Inc. v. Grinnell CorporationCourt of Appeals for the Second Circuit · 1974
- State of West Virginia v. Chas. Pfizer & Co.District Court, S.D. New York · 1970
- West Virginia v. Chas. Pfizer & Co.Court of Appeals for the Second Circuit · 1971
- Fed. Sec. L. Rep. P 93,062 C. Robert Young, National Bankers Life Insurance Co. v. Lawrence G. Katz, Movants-AppellantsCourt of Appeals for the Fifth Circuit · 1971
- Matter of WT Grant Co.United States Bankruptcy Court, S.D. New York · 1980
21 more not listed; retrieve them via the Exa API.