American Processing and Sales Company v. The United States

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that open accounts held by shareholder were debt where sales reports justified shareholder's confidence in sister corporation's future ability to repay
• “[t]he real differences [between a debt and a capital contribution] lie in the debt-creating intention of the parties, and the genuineness of repayment prospects in the light of economic realities”
• debtor's business operation almost totally destroyed by fire
• advances to a related corporation

Source: CourtListener parenthetical corpus (CC0).