People of New York v. United States

MARIS, Circuit Judge.

Equity proceedings were instituted in the District Court for the District of Delaware against S. W. Straus Investing Corporation, a Delaware corporation, hereinafter referred to as Straus, on March 3, 1933, and receivers were , appointed the same day by that court. On September 28, 1933 the receivers reported that reorganization was impossible and proceeded to liquidate the assets, which were located chiefly in the State of New York. The proceeds were insufficient to pay all of the preferred claims. The claim of the United States against Straus is for an unpaid balance of…