United States v. Butterworth-Judson Corp., 269 U.S. 504 (1926)

United States v. Butterworth-Judson Corporation


No. 503


Argued November 23, 1925
Decided January 11, 1926
269 U.S. 504

CERTIORARI TO THE CIRCUIT COURT OF APPEALS
FOR THE SECOND CIRCUIT

Syllabus

Where the answer of an insolvent corporation, in a suit brought by a simple contract creditor for the conservation and disposition of its property for the benefit of it creditors, admitted the allegations of the bill and consented to a decree appointing receiver, held that this amounted to the handing over of all the property and business to be administered a a trust fund to pay debts, and was in substance a voluntary assignment within the meaning of Rev.Stats. § 3466, entitling the United States to priority in payment of it claim. P. 513.

9 F.2d 1018 reversed.

Certiorari to a judgment of the circuit court of appeals affirming an order of the district court which dismissed a petition in intervention filed by the United States, seeking preferred payment of its claim in a suit to administer and dispose of the assets of a corporation, through receivers, for the settlement of its debts. See also Price v. United States, ante, p. 492.