Biltrite Bldg. Co. v. Elliott

(concurring) : We are not concerned with, and are not considering in this case, the question whether the federal Court had jurisdiction and power to take over and administer the affairs of a state bank in process of liquidation. We are considering solely the question whether that Court has power to authorize and direct the receivers appointed by it to receive and liquidate the general assets of the bank, to demand, receive, and administer the proceeds of the stockholders’ liability to the depositors of the bank.

Prior to the passage of the Act of the General Assembly of South Carolina,…