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LEIMAN v. GUTTMAN

No. 88.

336 U.S. 1 (1949)

69 S.Ct. 371

93 L.Ed. 453

LEIMAN ET AL. v. GUTTMAN ET AL.

Supreme Court of United States.

Decided January 17, 1949.

Attorney(s) appearing for the Case

Samuel Marion argued the cause and filed a brief for petitioners.

Leo Praeger and Barney Rosenstein argued the cause and filed a brief for respondents.

Solicitor General Perlman, Roger S. Foster and George Zolotar filed a brief for the Securities & Exchange Commission, as amicus curiae, urging affirmance.

MR. JUSTICE DOUGLAS delivered the opinion of the Court.

Section 221 of Ch. X of the Bankruptcy Act, 52 Stat. 897, 11 U.S.C. § 621, provides:

"The judge shall confirm a plan if satisfied that. . . . "(4) all payments made or promised by the debtor or by a corporation issuing securities or acquiring property under the plan or by any other person, for services and for costs and expenses in, or in connection...

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