Price v. Gurney, 324 U.S. 100 (1945)

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Price v. Gurney

No. 410

Argued January 12, 1945
Decided February 5, 1945
324 U.S. 100

CERTIORARI TO THE CIRCUIT COURT OF APPEALS

FOR THE SIXTH CIRCUIT

Syllabus

1. The bankruptcy court is without jurisdiction to entertain a Chapter X petition filed on behalf of a corporation (organized under state law) by stockholders who, under the local law, are without authority to institute such proceedings, even though that authority might have been obtainable under the local law by proceedings in another forum. P. 106.

2. Under the Bankruptcy Act, the power of the bankruptcy court over the debtor and its property prior to the approval of the petition does not extend to this situation. P. 106.

142 F.2d 404 reversed.

Certiorari, 33 U.S. 696, to review the reversal of an order of the bankruptcy court dismissing a petition under Chapter X of the Bankruptcy Act.