Legal Opinion
Faitoute Iron & Steel Co. v. City of Asbury Park
Supreme Court of the United States
Decided June 1, 1942No. 896PublishedCited by 88 opinions
1Opinion of the CourtJustice Frankfurter
A New Jersey statute, adopted in 1931, authorized state control over insolvent municipalities. By a supplementary law, enacted in 1933, a plan for adjustment of the claims of creditors of such an insolvent municipality could be made binding upon all creditors. The question is whether an adjustment so authorized by a state impairs rights in violation of the Constitution of the United States.
The City of Asbury Park is a seashore resort with a resident population of 15,000. It presents a familiar picture of optimistic and extravagant municipal expansion caught in the destructive grip of general…
2Cases cited15 opinions
- Bank of Columbia v. OkelySupreme Court of the United States · 1819
- Hunter v. City of PittsburghSupreme Court of the United States · 1907
- Veix v. Sixth Ward Building & Loan Assn. of NewarkSupreme Court of the United States · 1940
- Davis v. MillsSupreme Court of the United States · 1904
- W. B. Worthen Co. v. KavanaughSupreme Court of the United States · 1935
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3Cited by88 opinions
- United States Trust Co. of NY v. New JerseySupreme Court of the United States · 1977
- Energy Reserves Group, Inc. v. Kansas Power & Light Co.Supreme Court of the United States · 1983
- City of El Paso v. SimmonsSupreme Court of the United States · 1965
- Puerto Rico v. Franklin California Tax-Free TrustSupreme Court of the United States · 2016
- East New York Savings Bank v. HahnSupreme Court of the United States · 1945
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