Moscow Fire Insurance Co. of Moscow, Russia v. Bank of New York & Trust Co.

Donnelly (James F.), Referee.

By determination of the Court of Appeals made at the end of the domestic liquidation of five Russian insurance companies whose surpluses could not be remitted to domiciliary receivers in Russia because of non-recognition of that country in 1931, the surplus of each “ that, might otherwise be *907lost ” was directed to be turned over to “ directors,” to a " Conservator,” to a “ depositary,” or as the emergencies of each particular company differently required, upon the proviso that the funds “ would not be withdrawn except upon an order of a court of competent…