Duparquet Huot & Moneuse Co. v. Evans, 297 U.S. 216 (1936)

Duparquet Huot & Moneuse Co. v. Evans

No. 533

Argued January 17, 1936
Decided February 3, 1936
297 U.S. 216

CERTIORARI TO THE CIRCUIT COURT OF APPEALS

FOR THE SECOND CIRCUIT

Syllabus

1. A receivership in foreclosure suit, for the purpose of conserving the mortgaged property and collecting the rents pendente lite for the benefit of the lienholder, is not an "equity receivership," within the meaning of § 77B(a)(i) of the Bankruptcy Act. P. 218.

2. An equity receivership, within the meaning of § 77B, is a receivership for the purpose of conserving and reorganizing or winding up the business of the corporation. P. 218.

3. Under § 3 of the Bankruptcy Act, appointment of a receiver for the debtor’s property is not an act of bankruptcy if not done while the debtor is insolvent. P. 224.

78 F.2d 678 affirmed.

Certiorari, 296 U.S. 569, to review a decree affirming a decree of the District Court, which dismissed a petition of three creditors for a reorganization of a debtor corporation under § 77B of the Bankruptcy Act.