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SECURITIES COMM'N v. U.S. REALTY CO.

No. 796.

310 U.S. 434 (1940)

60 S.Ct. 1044

84 L.Ed. 1293

SECURITIES AND EXCHANGE COMMISSION v. UNITED STATES REALTY & IMPROVEMENT CO.

Supreme Court of United States.

Decided May 27, 1940.

Attorney(s) appearing for the Case

Solicitor General Biddle, with whom Messrs. Richard H. Demuth, Chester T. Lane, Martin Riger, Samuel H. Levy, Raoul Berger, and Homer Kripke were on the brief, for petitioner.

Messrs. Joseph M. Hartfield and Henry M. Marx, with whom Mr. Charles W. Dibbell was on the brief, for respondent.

MR. JUSTICE STONE delivered the opinion of the Court.

The questions are whether respondent's petition for an arrangement of its unsecured debts under Chapter XI of the Bankruptcy Act should be dismissed because the relief obtainable under that chapter is inadequate, and whether the Securities and Exchange Commission is entitled to raise and litigate that question by intervention and appeal.

Respondent, a New Jersey...

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