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U.S. EX REL. WILLOUGHBY v. HOWARD

No. 30.

302 U.S. 445 (1938)

58 S.Ct. 309

82 L.Ed. 352

UNITED STATES EX REL. WILLOUGHBY, TRUSTEE, ET AL. v. HOWARD ET AL.

Supreme Court of United States.

Decided January 3, 1938.

Attorney(s) appearing for the Case

Mr. Walter E. Beebe, with whom Messrs. Thurlow G. Essington, George B. McKibbin and Hamilton K. Beebe were on the brief, for petitioners.

Mr. Lloyd Heth, with whom Messrs. Julius Moses, William P. Smith, Walter Bachrach, Stanley J. Morris and R. Weyand were on the brief, for respondents.

MR. JUSTICE BRANDEIS delivered the opinion of the Court.

The question for decision is whether a trustee (or receiver) in bankruptcy and the surety on his official bond can be held liable for the loss resulting from the insolvency of the bank in which the estate's funds were deposited, if it was one of the depositories designated by the court under U.S.C. Title 11, § 101.

Sam Howard was trustee in bankruptcy of...

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