Legal Opinion
In Re Prudence Co.
District Court, E.D. New York
Decided April 20, 1938No. 27496, 27028PublishedCited by 2 opinions
1Opinion of the Court
MOSCOWITZ, District Judge.
This is a motion to confirm the report of the Special Master which found that certain funds of The Prudence Company, Inc., the debtor, were trust funds or funds upon which there existed an equitable lien, and therefore were not to be included in the general assets of the debtor.
The facts, which are not controverted, reveal that for an extended period prior to the “Banking Holiday” of March, 1933, the debtor entered into arrangements with persons desirous of purchasing “Prudence-Bonds” whereby the prospective purchaser would make small payments either weekly or…
2Cases cited5 opinions
- Hamer v. . SidwayNew York Court of Appeals · 1891
- Rogers Locomotive & MacHine Works v. KelleyNew York Court of Appeals · 1882
- Steel Cities Chemical Co. v. Virginia-Carolina Chemical Co.Court of Appeals for the Second Circuit · 1925
- Sinclair Cuba Oil Co. v. Manati Sugar Co.District Court, S.D. New York · 1932
- Beaver Board Cos. v. ImbrieCourt of Appeals for the Second Circuit · 1924
3Cited by2 opinions
- Poirier & McLane Corp. v. CommissionerUnited States Tax Court · 1975
- Poirier & McLane Corp. v. CommissionerUnited States Tax Court · 1975