McGRATH, ATTORNEY GENERAL, AS SUCCESSOR TO THE ALIEN PROPERTY CUSTODIAN, v. MANUFACTURERS TRUST CO. (338 U.S. 241)
U.S. Supreme Court · decided November 7, 1949 · Supreme Court Database (Spaeth)
- Citation
- 338 U.S. 241 · 70 S. Ct. 4
- Decided
- November 7, 1949
- Term
- October Term 1949
- Vote
- 7–0
- Majority author
- Justice Burton
- Issue area
- Due Process
- Disposition
- Affirmed
- Outcome
- Petitioning party lost
- Ideological direction
- Conservative
Opinion excerpt
Mr. Justice Burton delivered the opinion of the Court. Numbers 11 and 15 are cross appeals from Clark v. Manufacturers Trust Co., 169 F. 2d 932 (C. A. 2d Cir.). Certiorari was granted in No. 11, on petition of the Custodian, to resolve a conflict between the judgment below and that in Clark v. Lavino & Co., 175 F. 2d 897 (C. A. 3d Cir.). The conflict is confined to the Custodian’s claim to the allowance of interest, in his favor, in a summary proceeding under § 17 of the Trading with the Enemy Act. He claims interest from the date that his Turnover Directive was served upon the Manufacturers Trust Company, here referred to as the bank, and computes such interest upon the sum which he ordered turned over. For the reasons hereinafter stated, we agree with the judgment below in its denial of interest. We granted certiorari also on the cross appeal of the bank in No. 15. This was to enable us to reexamine the pleadings and, if they were found to permit it, to consider the bank’s claim that the District Court lacked authority to order it to turn over to the Custodian the principal sum in question, in the face of the bank’s denial of its indebtedness to the enemy creditor for that sum, its claim of a setoff in excess of the alleged debt, and its claim to a lien upon the proceeds of the debt. We find that the record does not permit us to reach that issue. February 1, 1946, the…
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