City of Lincoln v. Ricketts
Supreme Court of the United States
1Opinion of the Court
Mr. Chief Justice ■ Hughes
delivered the opinion of' the Court.
The City of Lincoln, Nebraska, a municipal corpora^ tion, sought priority in the payment of its claim against the Lincoln Trust Company, bankrupt. The claim was for $45,000, with interest. The City based its contention on § 64b of the Bankruptcy Act, and also claimed that the amounts in question had been placed in the custody of the Trust Company as a trust fund. The District Court held that the City was not within § 64b, and that the trust had not been established except as to the sum of $628.63. The court directed that the…
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