National Bank of Commerce v. Downie
Supreme Court of the United States
APPEALS FROM THE CIRCUIT COURT OF APPEALS FOR THE NINTH CIRCUIT. The facts, which involve the validity of traiisfers of unallowed claims against the United States, are stated in the opinion. The trustee in bankruptcy is net entitled to claim and hold the proceeds of the claims plédged to appellants ih disregard of the lien which they claim thereon. Sections 67d, 70a of Bankruptcy Act.
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APPEALS FROM THE CIRCUIT COURT OF APPEALS FOR THE NINTH CIRCUIT. The facts, which involve the validity of traiisfers of unallowed claims against the United States, are stated in the opinion. The trustee in bankruptcy is net entitled to claim and hold the proceeds of the claims plédged to appellants ih disregard of the lien which they claim thereon. Sections 67d, 70a of Bankruptcy Act. Section Q7d applies to purely 'equitable liens, as well as to liens created by statute and common-law liens. Chattanooga Bank v. Rome Iron Co., 102 Fed. Rep. 755; McDonald v. Dáskam, 116 Fed. Rep: 276; Re Elm…
1Opinion of the CourtJustice Harlan
There is no dispute as to the facts out of which the present controversy has arisen. Substantially the facts are these: On the sixteenth day of April, 1907, the appellee Downie was appointed receiver of the property of Gam-well & Wheeler, partners, who had previously, on the same day, been adjudged bankrupts. Subsequently he was elected and qualified as permanent trustee, and by order of the court, June 20th, 1907, was authorized to collect all moneys due the bankrupts from the United States or any of its departments.
Gamwell & Wheeler, as a firm, held sixteen , unallowed claims against the…
2Cases cited13 opinions
- Hobbs v. McLeanSupreme Court of the United States · 1886
- Freedman's Saving & Trust Co. v. ShepherdSupreme Court of the United States · 1888
- Goodman v. NiblackSupreme Court of the United States · 1881
- Erwin v. United StatesSupreme Court of the United States · 1878
- United States v. GillisSupreme Court of the United States · 1877
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3Cited by67 opinions
- United States v. Aetna Casualty & Surety Co.Supreme Court of the United States · 1950
- Martin v. National Surety Co.Supreme Court of the United States · 1937
- Severin v. United StatesUnited States Court of Claims · 1943
- Mayo v. Pioneer Bank & Trust Co.Court of Appeals for the Fifth Circuit · 1959
- Texas v. Eastern Texas RailroadSupreme Court of the United States · 1922
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