Legal Opinion
In Re Third Ave. Transit Corp. Melniker v. Lehman
Court of Appeals for the Second Circuit
Decided July 10, 1952No. 22099_1PublishedCited by 45 opinions
1Opinion of the Court
FRANK, Circuit Judge.
The bankruptcy court had the power, in appropriate circumstances, under Section 116, sub. 2 of the Bankruptcy Act, to authorize the borrowing of money, from voluntary lenders, on trustees’ certificates, having a lien on mortgage assets superior to previously existing mortgage liens. 3 To substitute for the use of that power — which itself must be most cautious ly employed 4 — the court’s far more drastic power under Section 257, 5 requires proof of the most extraordinary circumstances— see R. F. C. v. Kaplan, 1 Cir., 185 F.2d 791, 795 6 not present here. 7 We think that…
2Cases cited14 opinions
- Continental Illinois National Bank & Trust Co. v. Chicago, Rock Island & Pacific Ry. Co.Supreme Court of the United States · 1935
- Railroad Commission of Texas v. Eastern Texas RailroadSupreme Court of the United States · 1924
- Bullock v. Florida Ex Rel. Railroad Comm'n of Fla.Supreme Court of the United States · 1921
- First Nat. Bank of Chicago v. Prima Co.Court of Appeals for the Seventh Circuit · 1937
- Reconstruction Finance Corp. v. Kaplan in Re Waltham Watch CoCourt of Appeals for the First Circuit · 1951
9 more not listed; retrieve them via the Exa API.
3Cited by45 opinions
- United States v. Whiting Pools, Inc.Supreme Court of the United States · 1983
- In Re Penn Central Transportation CompanySpecial Court under the Regional Rail Reorganization Act · 1974
- United States v. Whiting Pools, Inc.Court of Appeals for the Second Circuit · 1982
- In Re Timbers Of Inwood Forest Associates, Ltd.Court of Appeals for the Fifth Circuit · 1986
- Empire Enterprises, Inc. v. Koopmans (In Re Koopmans)United States Bankruptcy Court, D. Utah · 1982
40 more not listed; retrieve them via the Exa API.