In re the General Assignment for the Benefit of Creditors of White Plains Oil Corp. to Goldstein

Appellate Division of the Supreme Court of New York

In re the General Assignment for the Benefit of Creditors of White Plains Oil Corp. to Goldstein

260 A.D. 1055, 24 N.Y.S.2d 723, 1940 N.Y. App. Div. LEXIS 6023

CourtAppellate Division of the Supreme Court of the State of New York

DecidedDecember 30, 1940

StatusPublished

This text of 260 A.D. 1055 (In re the General Assignment for the Benefit of Creditors of White Plains Oil Corp. to Goldstein) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In re the General Assignment for the Benefit of Creditors of White Plains Oil Corp. to Goldstein, 260 A.D. 1055, 24 N.Y.S.2d 723, 1940 N.Y. App. Div. LEXIS 6023 (N.Y. Ct. App. 1940).

Pincite

Opinion

Order approving the assignee’s account, etc., and directing payment of ten per cent of appellant’s claim against the insolvent’s estate for 1937 social security taxes, under United States Code, title 42, section 1101 et seq., in so far as appealed from, affirmed, without costs, on the authority of Act of August 10, 1939, chapter 666, title IX, section 902, 53 Stat. 1399. Hagarty, Johnston, Adel and Taylor, JJ., concur; Lazansky, P. J., dissents and votes to reverse, with the following memorandum: The purpose of paragraph (3) of subdivision (a) of the Act of August 10, 1939 (Chap. 666, tit. IX, § 902, 53 Stat. 1399) seems to be to enable an insolvent whose assets during the fifty-nine-day period are in the custody of an appointee, or in any other way under the control of a court of competent jurisdiction, if his affairs were adjusted thereafter, or Ms receiver or trustee, if funds were available, to pay the required contribution under the State law, m which event the payment to the Federal government would be ten per cent of the normal tax. [1056]*1056But payment to the State is a condition precedent. The claim of the United States of America should be given priority.

Free access — add to your briefcase to read the full text and ask questions with AI

Order approving the assignee’s account, etc., and directing payment of ten per cent of appellant’s claim against the insolvent’s estate for 1937 social security taxes, under United States Code, title 42, section 1101 et seq., in so far as appealed from, affirmed, without costs, on the authority of Act of August 10, 1939, chapter 666, title IX, section 902, 53 Stat. 1399. Hagarty, Johnston, Adel and Taylor, JJ., concur; Lazansky, P. J., dissents and votes to reverse, with the following memorandum: The purpose of paragraph (3) of subdivision (a) of the Act of August 10, 1939 (Chap. 666, tit. IX, § 902, 53 Stat. 1399) seems to be to enable an insolvent whose assets during the fifty-nine-day period are in the custody of an appointee, or in any other way under the control of a court of competent jurisdiction, if his affairs were adjusted thereafter, or Ms receiver or trustee, if funds were available, to pay the required contribution under the State law, m which event the payment to the Federal government would be ten per cent of the normal tax. [1056]*1056But payment to the State is a condition precedent. The claim of the United States of America should be given priority.

Cite This Page — Counsel Stack

Bluebook (online)

260 A.D. 1055, 24 N.Y.S.2d 723, 1940 N.Y. App. Div. LEXIS 6023, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-the-general-assignment-for-the-benefit-of-creditors-of-white-plains-nyappdiv-1940.