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Prudence Realization Corp. v. Ferris, 323 U.S. 650 (1945)
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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.
Prudence Realization Corp. v. Ferris, 323 U.S. 650 (1945)
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Prudence Realization Corp. v. Ferris No. 137 Argued December 8, 11, 1944 Decided January 29, 1945 323 U.S. 650
CERTIORARI TO THE SUPREME COURT OF NEW YORK
Syllabus
1. The bankruptcy court having closed a § 77B proceeding for the reorganization of an issue of mortgage participation certificates without determining or retaining jurisdiction to determine the question of relative priority as between a guarantor and other holders, and having remitted the parties to "a court of competent jurisdiction" for the determination of that question, the state court, as such a court, properly determined the question in accordance with the law of the State. Prudence Corp. v. Geist, 316 U.S. 89, distinguished. Pp. 654-656.
2. No appeal having been taken from the bankruptcy court’s failure to retain jurisdiction to determine the question of relative priority, the order confirming the plan of reorganization is res judicata. P. 654.
292 N.Y. 210, 54 N.E.2d 367, affirmed.
Certiorari, post, p. 686, to review a determination of the relative rights of the parties in a distribution to creditors under a plan of reorganization.
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Chicago: U.S. Supreme Court, "Syllabus," Prudence Realization Corp. v. Ferris, 323 U.S. 650 (1945) in 323 U.S. 650 323 U.S. 651. Original Sources, accessed November 22, 2024, http://originalsources.com/Document.aspx?DocID=YZ29A43BPA9AT6F.
MLA: U.S. Supreme Court. "Syllabus." Prudence Realization Corp. v. Ferris, 323 U.S. 650 (1945), in 323 U.S. 650, page 323 U.S. 651. Original Sources. 22 Nov. 2024. http://originalsources.com/Document.aspx?DocID=YZ29A43BPA9AT6F.
Harvard: U.S. Supreme Court, 'Syllabus' in Prudence Realization Corp. v. Ferris, 323 U.S. 650 (1945). cited in 1945, 323 U.S. 650, pp.323 U.S. 651. Original Sources, retrieved 22 November 2024, from http://originalsources.com/Document.aspx?DocID=YZ29A43BPA9AT6F.
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