Levy v. Industrial Finance Corp.

Levy, a bankrupt, was denied a discharge by the District Court, and the denial was affirmed on appeal by the Circuit Court of Appeals. 16 F. (2d) 769. In view of a conflict between this decision and In re Applebaum, 11 F. (2d) 686, a writ of certiorari was granted by this Court, 274 U. S. 731. The conflict concerns the construction of § 14b(3) of the Bankruptcy Act. (July 1, 1898, c. 541, 30 Stat. 550; June 25, 1910, c. 412, § 6, 36 Stat. 838, 839.) By that section “the judge shall . . . discharge the applicant unless he has ... (3) obtained money or property on credit upon a materially false…