Schmidtman v. Atlantic Phosphate & Oil Corp.
Court of Appeals for the Second Circuit
Appeals from the District Court of the United States for the Eastern District of New York. Bill by Waldemar Schmidtman against the Atlantic Phosphate & Oil Corporation. From a decree, George Haefer, Jr., and others, appeal.
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Appeals from the District Court of the United States for the Eastern District of New York. Bill by Waldemar Schmidtman against the Atlantic Phosphate & Oil Corporation. From a decree, George Haefer, Jr., and others, appeal. The Phosphate Corporation, above named, was organized under the laws of New York in 1913, and on July 1, 1913, it executed to the Astor Trust Company, as trustee, a mortgage upon its real estate, vessels, and certain other property to secure 81,438,000 face amount of interest-bearing bonds. On October 19, 1914, Schmidtman, a general creditor, filed a bill in the District…
1Opinion of the Court
LACOMBE, Circuit Judge.
[1] The basis of the claim to priority is found in section'9 of New York Labor Law (chapter 415, § 8, Laws of 1897), which reads as follows:
‘‘Sec. 9. Upon the appointment of a receiver of a partnership or of a corporation organized under the laws of this state and doing business therein, other than a moneyed corporation, the wages of the employés of such partnership or corporation shall be preferred to every other debt or claim.”
[2] Manifestly the statute involved is in derogation of the common law and of common rights. It is a well-established principle that a receiver…
2Cases cited13 opinions
- Conard v. Atlantic Ins. Co. of NYSupreme Court of the United States · 1828
- Palmer v. . Van SantvoordNew York Court of Appeals · 1897
- Matter of StrykerNew York Court of Appeals · 1899
- Wimberly v. Mayberry & Co.Supreme Court of Alabama · 1891
- Warren v. SohnIndiana Supreme Court · 1887
8 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- In Re LabbDistrict Court, W.D. New York · 1941
- T. H. Mastin & Co. v. Pickering Lumber Co.District Court, N.D. California · 1933
- Pryor v. Pryors, PrintersArizona Supreme Court · 1941
- Clough v. Superior Equipment Corp.Court of Chancery of Delaware · 1931
- Caribe Motors Corp. v. PetrilliSupreme Court of Puerto Rico · 1962
5 more not listed; retrieve them via the Exa API.