CORPORATIONS-REORGANIZATION UNDER BANKRUPTCY ACT-JURISDICTION EXTENDING THROUGHOUT UNITED STATES AS SUBSTITUTE FOR ANCILLARY PROCEEDINGS

Authors

Abstract

On petition of debtor railroad seeking reorganization under Section 77, the District Court for the Northern District of Illinois, eastern division, enjoined non-resident pledgees from exercising their power of sale. Extra-territorial jurisdiction was grounded on Section 77 B, giving to the District Court "exclusive jurisdiction of the debtor and its property wherever located." Held, that "exclusive jurisdiction" means control over the debtor's property wherever located within the United States, and to protect the property process may issue affecting persons anywhere within the United States. Continental Illinois Nat. Bank v. Chicago, Rock Island & Pacific Ry., (U.S. 1935) 55 Sup. Ct. 595.

Recommended Citation

CORPORATIONS-REORGANIZATION UNDER BANKRUPTCY ACT-JURISDICTION EXTENDING THROUGHOUT UNITED STATES AS SUBSTITUTE FOR ANCILLARY PROCEEDINGS, 33 Mich. L. Rev. 1264 (1935).
Available at: https://repository.law.umich.edu/mlr/vol33/iss8/20