GENERAL STORES CORP. v. SHLENSKY

No. 170.

350 U.S. 462 (1956)

76 S.Ct. 516

100 L.Ed. 550

GENERAL STORES CORP. v. SHLENSKY ET AL.

Supreme Court of United States.

Decided March 26, 1956.


Attorney(s) appearing for the Case

Aaron Rosen and Frederic P. Houston argued the cause for petitioner. With them on the brief was Marks F. Paskes.

William H. Timbers argued the cause for the Securities and Exchange Commission, respondent. With him on the brief were Solicitor General Sobeloff, Thomas G. Meeker, David Ferber and Aaron Levy.

A. Alan Reich argued the cause for Shlensky, respondent. With him on the brief was Michael Gesas.

Max Goldweber argued the cause for the Wage Claimants, respondents. With him on the brief was Louis J. Weinshenker.

Leon Singer argued the cause for the Creditors Committee, respondent. With him on the brief was Samuel Blumberg.


MR. JUSTICE DOUGLAS delivered the opinion of the Court.

Petitioner instituted proceedings under c. XI of the Bankruptcy Act (52 Stat. 905, as amended, 11 U. S. C. § 701 et seq.) alleging it was unable to pay its debts as they matured. It proposed an arrangement of its general unsecured trade and commercial debts, none of which is evidenced by any publicly held security. Petitioner has indeed no debts of any nature by way of bonds, mortgage certificates...

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