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United States v. Key, 397 U.S. 322 (1970)
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General SummaryThis case is from a collection containing the full text of over 16,000 Supreme Court cases from 1793 to the present. The body of Supreme Court decisions are, effectively, the final interpretation of the Constitution. Only an amendment to the Constitution can permanently overturn an interpretation and this has happened only four times in American history.
United States v. Key, 397 U.S. 322 (1970)
United States v. Key No. 402 Argued January 21, 1970 Decided March 30, 1970 397 U.S. 322
CERTIORARI TO THE UNITED STATES COURT OF APPEALS
FOR THE SEVENTH CIRCUIT
Syllabus
The United States challenges, as violative of § 3466 of the Revised Statutes, a reorganization plan under Chapter X of the Bankruptcy Act under which claims of junior creditors were to be partially or fully paid before full payment was made of the Government’s tax claims. Section 3466 provides that, "[w]henever any person indebted to the United States is insolvent . . . , the debts due to the United States shall be first satisfied." The District Court approved the plan. The Court of Appeals affirmed on the ground that § 3466 was impliedly inapplicable by virtue of the statutory plan of Chapter X proceedings, § 199 of the Act providing that the United States shall have "payment," of its tax claims in such proceedings unless the Secretary of the Treasury accepts "a lesser amount," and §§ 216 and 221 establishing an equitable standard to govern the method of payment.
Held: The United States is entitled to absolute priority of payment under § 3466 of the Revised Statutes over the other claimants in the reorganization here involved, there being no inconsistency between the terms of that section and the provisions of Chapter X. Pp. 324-333.
407 F.2d 635, reversed and remanded.
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Chicago: U.S. Supreme Court, "Syllabus," United States v. Key, 397 U.S. 322 (1970) in 397 U.S. 322 Original Sources, accessed November 24, 2024, http://originalsources.com/Document.aspx?DocID=L32Q47TQXMU3JGF.
MLA: U.S. Supreme Court. "Syllabus." United States v. Key, 397 U.S. 322 (1970), in 397 U.S. 322, Original Sources. 24 Nov. 2024. http://originalsources.com/Document.aspx?DocID=L32Q47TQXMU3JGF.
Harvard: U.S. Supreme Court, 'Syllabus' in United States v. Key, 397 U.S. 322 (1970). cited in 1970, 397 U.S. 322. Original Sources, retrieved 24 November 2024, from http://originalsources.com/Document.aspx?DocID=L32Q47TQXMU3JGF.
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