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LEIMAN v. GUTTMAN

No. 88.

336 U.S. 1 (1949)

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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