United States v. Village Corporation, Pine Corporation, Chapel Corporation, and River Corporation

HAYNSWORTH, Circuit Judge.

The District Court held that a Virginia statute permitting the institu tion at any time of suits against Virginia corporations in the process of liquidation did not apply to suits against corporations the charters of which had been revoked prior to the enactment of the statute. We think it does.

These consolidated actions were commenced by the United States against four Virginia corporations, which had constructed and operated housing projects, to recover substantial deficiencies remaining unpaid on the mortgage debts after foreclosure of the federally guaranteed…