Virginia Iron, Coal & Coke Co. v. Olcott

Citations

• 197 F. 730
• 117 C.C.A. 124
• 1912 U.S. App. LEXIS 1319

Syllabus

<p>1. Bankruptcy (§ 217*) — Federal Court in Bankruptcy — Jurisdiction.</p> <p>The jurisdiction of the federal court in bankruptcy is exclusive in the administration of affairs of a bankrupt, and, it may stay proceedings in the state court begun four months prior to proceedings in bankruptcy. to prevent tlie doing of anything embarrassing it in the equitable distribution of the assets of the bankrupt.</p> <p>[Ed. Note. — For other cases, see Bankruptcy, Cent. Dig. §§ 323, 330, 340; Dee. Dig. § 217.*]</p> <p>2. Bankbuptcy (§ 211*) — Federal Court in Bankruptcy — Jurisdiction.</p> <p>A federal court in bankruptcy may in the exercise of its discretion permit lien claimants of the bankrupt to sue in state courts to enforce their liens, and it may modify its order permitting suits in the state courts, provided in so doing it does not deprive the claimants of any right to which they may be entitled in the bankruptcy proceeding.</p> <p>[Ed. Note.' — For other cases, see Bankruptcy, Cent. Dig. §§ 321, 323 ; Dec. Dig. § 211.*</p> <p>Jurisdiction of federal courts in suits relating to bankruptcy, see note to Bailey v. Mosher, 11 C. C. A. 313.]</p> <p>3. Bankruptcy (§ 211*) — Jurisdiction—Equitable Distribution oe Assets.</p> <p>A federal court in bankruptcy has the power to preserve, protect, and insure an equitable distribution of the assets of the bankrupt in proceedings for orders permitting lien claimants of the bankrupt to sue in state courts to enforce their liens, and may settle all equities subject to its general equity jurisdiction.</p> <p>[Ed. Note. — For other cases, see Bankruptcy, Cent. Dig. §§ 321, 323; Dec. Dig. § 211.*]</p> <p>4. Bankruptcy (§ 211*) — Jurisdiction—Equitable Distribution of Assets.</p> <p>Where a federal court in bankruptcy made an order permitting lien claimants of the bankrupt to sue in state courts to enforce their liens, a modified order permitting the perfecting of such liens, but the validity and extent of the liens when perfected to be d