NATCO CORPORATION v. UNITED STATES

No. 11992.

240 F.2d 398 (1956)

NATCO CORPORATION, Formerly National Fireproofing Corporation, Appellant, v. UNITED STATES of America.

United States Court of Appeals Third Circuit.

Decided December 19, 1956.


Attorney(s) appearing for the Case

Julius Ruslander, Pittsburgh, Pa. (Ruslander, Ruslander & Lieber, Greer McIlvain, Pittsburgh, Pa., on the brief), for appellant.

Meyer Rothwacks, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson, Atty. Dept. of Justice, Washington, D. C., D. Malcolm Anderson, Jr., U. S. Atty., Pittsburgh, Pa., on the brief), for appellee.

Before BIGGS, Chief Judge, and McLAUGHLIN and STALEY, Circuit Judges.


STALEY, Circuit Judge.

This is an appeal by a taxpayer from a judgment of the district court denying a refund of taxes alleged to have been erroneously paid. The taxpayer, a Pennsylvania corporation, was reorganized in 1936 under Section 77B of the National Bankruptcy Act, 11 U.S.C.A. § 207, and began business as a reorganized corporation on June 8, 1936. In accordance with the plan of reorganization, it issued to creditors $2,836,400 Sixteen Year 5% Cumulative...

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