Brown v. State Bank

I do not agree with the construction placed upon the section of the Bankruptcy Act in controversy. In my opinion the debtors, at the time of filing their petition, either had an interest in the property and therefore entitled to the benefits of the Act, or had no interest and not entitled to such benefits. I think the court should take one horn or the other of the dilemma. Apparently the majority takes both.

The opinion assumes that the debtors’ equity of redemption terminated with the Sheriff’s sale. Why assume? There is no ambiguity in the Statute. By its plain terms, the equity of…