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LION BONDING CO. v. KARATZ

Nos. 574, 467.

262 U.S. 77 (1923)

LION BONDING & SURETY COMPANY v. KARATZ. DEPARTMENT OF TRADE & COMMERCE OF THE STATE OF NEBRASKA ET AL. v. HERTZ ET AL., AS RECEIVERS OF LION BONDING & SURETY COMPANY.

Supreme Court of United States.

Decided April 23, 1923.

Attorney(s) appearing for the Case

Mr. Halleck F. Rose, with whom Mr. O.S. Spillman, Attorney General of the State of Nebraska, Mr. John F. Stout, Mr. Arthur R. Wells, Mr. Paul L. Martin and Mr. Amos Thomas were on the brief, for petitioners.

Mr. Bruce W. Sanborn, with whom Mr. William G. Graves, Mr. Samuel G. Ordway and Mr. William R. Kueffner were on the briefs, for respondents.

Mr. Francis R. Stoddard, Jr., Superintendent of Insurance of the State of New York, and Mr. Clarence C. Fowler, by leave of court, filed a brief as amici curice.

MR. JUSTICE BRANDEIS delivered the opinion of the Court.

These two cases arise out of the insolvency of the Lion Bonding and Surety Company, a Nebraska insurance corporation. They are here on writs of certiorari to the United States Circuit Court of Appeals for the Eighth Circuit. In the Karatz case, it affirmed a decree of the federal court for Minnesota which appointed receivers in a suit brought by an unsecured simple contract creditor. See 280 Fed. 532...

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