John L. King, Trustee in Reorganization of Gilcor Enterprises, Inc., Plaintiff v. Warren E. Gilbert

Fifth Circuit

John L. King, Trustee in Reorganization of Gilcor Enterprises, Inc., Plaintiff v. Warren E. Gilbert

569 F.2d 398, 1978 U.S. App. LEXIS 12221

CourtCourt of Appeals for the Fifth Circuit

DecidedMarch 10, 1978

Docket77-2750

StatusPublished

Cited by13 cases

This text of 569 F.2d 398 (John L. King, Trustee in Reorganization of Gilcor Enterprises, Inc., Plaintiff v. Warren E. Gilbert) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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John L. King, Trustee in Reorganization of Gilcor Enterprises, Inc., Plaintiff v. Warren E. Gilbert, 569 F.2d 398, 1978 U.S. App. LEXIS 12221 (5th Cir. 1978).

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Opinion

PER CURIAM:

This case is affirmed on the basis of the district court’s opinion, reported at 445 F.Supp. 479 (N.D.Ga.1978), with the following additional observations. The appellant claims that the federal anti-assignment statute renders the assignment of the tax refund invalid. This is erroneous. The Supreme Court in Segal v. Rochelle, 382 U.S. 375, 86 S.Ct. 511, 517, 15 L.Ed.2d 428 (1966), has stated that section 203 was enacted to protect the federal government from conflicting claims and that “between the [private] parties effect might still be given to an assignment that failed to comply with the statute.” The appellant claims that under Georgia law the tax refund could not be assigned because it was not property in existence at the time of the *399 assignment. That is an incomplete statement of the law of Georgia. In an equity proceeding, such as bankruptcy, the assignment of a contingent right will be enforced. When the contingency is realized, the right to the property attaches as of the time of the assignment. Cf. Kolb v. Berlin, 356 F.2d 269, 272 (5th Cir. 1966) (and Georgia cases cited).

AFFIRMED.

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PER CURIAM:

This case is affirmed on the basis of the district court’s opinion, reported at 445 F.Supp. 479 (N.D.Ga.1978), with the following additional observations. The appellant claims that the federal anti-assignment statute renders the assignment of the tax refund invalid. This is erroneous. The Supreme Court in Segal v. Rochelle, 382 U.S. 375, 86 S.Ct. 511, 517, 15 L.Ed.2d 428 (1966), has stated that section 203 was enacted to protect the federal government from conflicting claims and that “between the [private] parties effect might still be given to an assignment that failed to comply with the statute.” The appellant claims that under Georgia law the tax refund could not be assigned because it was not property in existence at the time of the *399 assignment. That is an incomplete statement of the law of Georgia. In an equity proceeding, such as bankruptcy, the assignment of a contingent right will be enforced. When the contingency is realized, the right to the property attaches as of the time of the assignment. Cf. Kolb v. Berlin, 356 F.2d 269, 272 (5th Cir. 1966) (and Georgia cases cited).

AFFIRMED.

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569 F.2d 398, 1978 U.S. App. LEXIS 12221, Counsel Stack Legal Research, https://law.counselstack.com/opinion/john-l-king-trustee-in-reorganization-of-gilcor-enterprises-inc-ca5-1978.

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