Skip to content


Judgment Search Results Home > Cases Phrase: debentures companies act Court: us supreme court Page 1 of about 392 results (0.081 seconds)

Dec 12 1898 (FN)

Blake Vs. Mcclung

Court : US Supreme Court

..... the original debenture issue amounted to $500,000, and another issue, subsequent in time, and in respect ..... any one of the creditors whose claims were presented. the company maintained its home office in london, its managing director resided there, and, after this suit was instituted, liquidation under the companies' acts of great britain was there ordered and begun. there were holders of debentures executed by the british company whose claims were not specifically adjudicated in the decree below. ..... the united states, nor in contravention of any other provision of the national constitution; that all of the holders and owners of the debenture bonds of the embreeville company were simple contract creditors of the company, and stood upon the same footing with reference to the distribution of its assets as all of its other creditors who reside out of ..... contained, among other provisions, the following: "that all of the holders and owners of the debenture bonds of the company are simple contract creditors of said company, and stand upon the same footing in reference to the distribution of the assets of the company as all other of its creditors residing out of the state of tennessee," and that the " .....

Tag this Judgment!

Nov 02 1994 (FN)

Gustafson Vs. Alloyd Co.

Court : US Supreme Court

..... . ralston purina co., 346 u. s. 119 , 123 (1953) (characterizing the companies act as a "statutory anteceden[t]" of federal securities laws). the companies act defined "prospectus" as "any prospectus, notice, circular, advertisement, or other invitation, offering to the public for subscription or purchase any shares or debentures of a company," 19 & 20 geo. 5, ch. 23, 380(1) (1929) (emphasis added ..... ). though the drafters of the securities act borrowed the first four 2 although the court ..... no. 85, at 5. so, too, the report provided: "the committee is fortified in these sections [that is, 11 and 12] by similar safeguards in the english companies act of 1929. what is deemed necessary for sound financing in conservative england ought not be unnecessary 583 for the more feverish pace which american finance has developed." id., at 9 ..... " were redundant in light of the understood meaning of "prospectus." far from suggesting an intent to depart in a dramatic way from the balance struck in the british companies act, the legislative history suggests an intent to maintain it. in the context of justifying the "civilliabilities" provisions that hold "all those responsible for statements upon the face .....

Tag this Judgment!

Jan 08 1934 (FN)

First National Bank of Cincinnati Vs. Flershem

Court : US Supreme Court

..... the right to collect interest and principal in an action at law. if that right was impaired by the acts of the trust company in declaring the principal of the debentures due and securing judgment thereon, equity will grant relief because those acts, done at the request of the reorganization committee, page 290 u. s. 521 were incidents of the plan which we hold ..... reorganization committee, then the only plaintiffs in this suit. it was at their request that the bankers' trust company, as trustee, declared the principal of the debentures due, recovered judgment thereon for $10,673,000, and intervened page 290 u. s. 520 as party plaintiff. these acts were steps in carrying out the plan in which the corporation, the committee, and the trust ..... company cooperated. the sale and reorganization being in law fraudulent as to the petitioners in no. 64, it remains ..... was fraudulent in law as to these petitioners. [ footnote 13 ] the debenture holders who, by assenting to the plan, cooperated .....

Tag this Judgment!

Feb 24 1981 (FN)

Board of Governors, Frs Vs. Investment Co. Inst.

Court : US Supreme Court

..... permissible under 4(c)(8). pp. 450 u. s. 58 -64. (c) since the interpretive ruling issued with the amendment to regulation y prohibits a bank holding company acting as an investment adviser from issuing, underwriting, selling, or redeeming securities, regulation y, as amended, avoids the potential hazards involved in any association between a bank affiliate and ..... , public sale, or distribution at wholesale or retail or through syndicate participation of stocks, bonds, debentures, notes or other securities." 48 stat. 188, 12 u.s.c. 377. although "affiliate," as originally defined in 2(b) of the glass-steagall act, did not include holding companies, see 48 stat. 162, congress, in 1966, amended the statute to bring holding ..... this provision is not intended to prejudice the rights of banks or bank holding companies or their affiliates to engage in ..... holding shares in companies "engaged principally in the issue, flotation, underwriting, public sale, or distribution at wholesale or retail or through syndicate participation of stocks, bonds, debentures, notes or securities." the report recognized that this provision was a restatement of the prohibition already contained in the glass-steagall act. the report goes on to state: "the inclusion of .....

Tag this Judgment!

Dec 10 1883 (FN)

Canada Southern Ry. Co. Vs. Gebhard

Court : US Supreme Court

..... canada supreme court 505. on the 20th of august, 1867, the parliament of great britain passed the "railway companies act, 1867." 2 stat. 1332; 30, 31, vict. c. 127. this act provides, among other things, for the preparation of "schemes of arrangement" between railway companies unable to meet their engagements and their creditors, which can be filed in the court of chancery, accompanied by ..... of affairs, the parliament of canada, on the 26th of may, 1874, enacted that the canada southern railway, which was the railway built by the canada southern railway company under its provincial act of incorporation, "be declared to be a work for the general advantage of canada," and a "body corporate and politic within the jurisdiction of canada," for all the ..... assented to by certain majorities of shareholders, and of holders of debentures and securities ejusdem generis. " page 109 u. s. 534 and, even now, in england special acts are passed whenever the provisions of the general act are not such as are needed to meet the wants of a particular company. a special act of this kind was considered in london financial association v. wrexham ..... to such new capital, were assented to or dissented from by those who might be considered as the proprietors of the existing capital of the company, either as shareholders or bondholders. the object of the present act . . . appears to be to dispense with a special application to parliament of the kind i have described and to give a parliamentary sanction to .....

Tag this Judgment!

Nov 21 1921 (FN)

United States Vs. Phellis

Court : US Supreme Court

..... going concern, including the goodwill and a large surplus, and, in consideration, the old corporation retained money enough to redeem part of its bonds and received (1) the new company's debenture stock of par value sufficient to redeem the remainder, retire its own preferred stock, and leave in its treasury an amount equal in par value to its own outstanding common ..... of the stockholders was based upon this as a part of the plan. in thus creating the common stock of the new company and transferring it to the old company for distribution pro rata among its stockholders, the parties were acting in the exercise of their rights for the very purpose of placing the common stockholders individually in possession of new and substantial ..... and disposition of the dividends thereon, did no business. held: (a) the shares of the new company's common stock which passed to the old company and through it to its stockholders as a dividend, representing its surplus, were income of the shareholders, taxable under the act of october 3, 1913. p. 257 u. s. 169 . (b) and this although the market value ..... v. turrish, 247 u. s. 221 ; southern pacific co. v. lowe, 247 u. s. 330 ; gulf oil corp. v. lewellyn, 248 u. s. 71 . the act under which the tax now in question was imposed (act of october 3, 1913, c. 16, 38 stat. 114, 166, 167) declares that income shall include, among other things, gains derived "from interest, rent, dividends, securities .....

Tag this Judgment!

Mar 05 1956 (FN)

United States Vs. Leslie Salt Co.

Court : US Supreme Court

..... by the lake shore r.r. co. and by the new york central, the custom of adopting such agreements has become general. originally, in 1893, the general electric company made a large issue of debentures without an agreement, but, at the time of the refunding in 1912, a trust agreement was executed." "preparation of corporate bonds, mortgages, collateral trusts and ..... private placement," a method of corporate financing which, because of its economies and conveniences, has become popular since the enactment of the securities act of 1933. the government claims that these notes are taxable under 1801 either as "debentures" or "certificates of indebtedness." the taxpayer, on the other hand, contends that these terms, undefined in the statute, do not include ..... delimit the instruments included in the term." "it is therefore held that the term 'certificate of indebtedness' as used in subdivision 1 of schedule a, title xi, revenue act of 1918, includes only instruments having the general character of investment securities, as distinguished from instruments evidencing debts arising in ordinary transaction between individuals, and that conditional bills of ..... or transfer, and usually without coupons." treasury regulations 55, june 11, 1919. the 1920 revision of regulations 55 was substantially identical, as were the regulations issued under the revenue act of 1921 (regulations 55, articles 8 and 35). [ footnote 11 ] "sec. 113.50. scope of tax. section 1801 imposes a tax upon the issue by any corporation .....

Tag this Judgment!

Feb 25 1901 (FN)

New Orleans Debenture Redemption Co. Vs. Louisiana

Court : US Supreme Court

..... , directors, and stockholders were unlawfully exercising a corporate franchise, and were acting as a corporation in the state without having been legally incorporated, and in violation of law, and that the public interest and common justice required that the company be enjoined from declaring forfeited or lapsed the rights of any debenture holder who did not continue paying his monthly installments during the ..... subscribers or their assigns. it also issued its debentures and did business in accordance with the charter, and, as claimed, under and by the authority of the act of the legislature above mentioned. it made contracts and page 180 u. s. 328 it elected officers who thereafter acted as such and assumed to represent the company as a corporation doing business under the laws ..... in redemption page 180 u. s. 324 of debentures, and from making loans on and from forfeiting any of said debentures, or the rights of any of the holders thereof, should be and was thereby confirmed and made absolute, and the company and its officers, representatives, and members were perpetually enjoined and restrained from acting in a corporate capacity. a motion for a new ..... act no. 36 of the laws of the year 1888, for the pursuit of the private enterprise and purposes set forth in its charter, and that stock had been issued to the extent of $50,000 and paid for to it, and that, in doing business, it had made many legal contracts which were outstanding, and that its debenture holders wished the company .....

Tag this Judgment!

Jan 28 1952 (FN)

Cities Service Co. Vs. Mcgrath

Court : US Supreme Court

..... seizure of the actual instrument, congress transgressed no constitutional limitations on its jurisdiction. as the court of appeals pointed out, the obligor, cities service company, is within the united states, and the obligation of which the debenture is evidence can be effectively dealt with through the exercise of jurisdiction over that petitioner. see standard oil co. v. new jersey, 341 u ..... remedy against the united states in the event a foreign court holds them liable to a holder in due course page 342 u. s. 335 of the debentures. while petitioners concede that the act discharges them from liability in any court in the united states, [ footnote 8 ] they contend that they have extensive properties over the world which subject them ..... debentures had previously been vested, under provisions of the trading with the enemy act, [ footnote 2 ] upon a finding that the obligations were owned by a ..... general of the united states as successor to the alien property custodian [ footnote 1 ] seeks payment by petitioners of two 5% gold debentures of the face value of $1,000 each and payable to bearer. petitioner cities service company is obligor on the debentures, and petitioner chase national bank of new york is the indenture trustee. the obligations represented by these .....

Tag this Judgment!

Jun 09 1975 (FN)

Blue Chip Stamps Vs. Manor Drug Stores

Court : US Supreme Court

..... commission issued a press release stating: "the new rule closes a loophole in the protections against fraud administered by the commission by prohibiting individuals or companies from buying securities if they engage in fraud in their purchase." sec release no. 3230 (may 21, 1942). to say specifically that certain types ..... a page 421 u. s. 761 newly offered security that subsequently enjoyed substantial market appreciation to file a claim alleging that the offering prospectus understated the company's potential. the number of possible plaintiffs with respect to a public offering would be virtually unlimited. as noted above (at 421 u. s. ..... as the dissent notes, rule 10b-5 was adopted in order to close "a loophole in the protections against fraud . . . by prohibiting individuals or companies from buying securities if they engage in fraud in their purchase." see sec release no. 3230 (may 21, 1942); remarks of milton freeman, conference on ..... of its shares of common stock to retailers who had used the stamp service in the past but who were not shareholders in the old company. under the terms of the plan, the offering to nonshareholder users was to be proportional to past stamp usage, and the shares were ..... to be offered in units consisting of common stock and debentures. the reorganization plan was carried out, the offering was registered with the sec as required by the 1933 act, and a prospectus was distributed to all offerees as required by 5 of that act, 15 u.s.c. 77e. somewhat more than .....

Tag this Judgment!


Save Judgments// Add Notes // Store Search Result sets // Organizer Client Files //