Legal Opinion
Corn Exchange National Bank & Trust Co. v. Klauder
Supreme Court of the United States
Decided March 8, 1943No. 452PublishedCited by 118 opinions
1Opinion of the CourtJustice Jackson
This case requires us to determine the application of the preference provisions of § 60 (a) of the Bankruptcy Act as amended by the Chandler Act of June 22, 1938, 1 to loans made on assignments of accounts receivable.
The Quaker City Sheet Metal Company became embarrassed for want of working capital in 1938. Creditors representing a large percentage of claims later proved in bankruptcy agreed to subordinate their claims to those which might be incurred for new working capital. A creditor’s committee took supervision of the business and in 1938 arranged with the petitioner Bank to advance from…
2Cases cited17 opinions
- Erie Railroad v. TompkinsSupreme Court of the United States · 1938
- Thompson v. FairbanksSupreme Court of the United States · 1905
- Bailey v. Baker Ice MacHine Co.Supreme Court of the United States · 1915
- Salem Trust Co. v. Manufacturers' Finance Co.Supreme Court of the United States · 1924
- Benedict v. RatnerSupreme Court of the United States · 1925
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3Cited by118 opinions
- Davies Warehouse Co. v. BowlesSupreme Court of the United States · 1944
- McKenzie v. Irving Trust Co.Supreme Court of the United States · 1945
- Gins v. Mauser Plumbing Supply Co.Court of Appeals for the Second Circuit · 1945
- R. Anthony Dubay v. Everette H. Williams, Everette H. Williams v. Rose City Development Co., Inc., Robert J. Davis v. Everette H. WilliamsCourt of Appeals for the Ninth Circuit · 1969
- Mayo v. Pioneer Bank & Trust Co.Court of Appeals for the Fifth Circuit · 1959
113 more not listed; retrieve them via the Exa API.