United States Nat Bank in Johnstown v. Chase Nat Bank of New York City’s Empirical Analysis

Citation profile

105 federal appellate · 24 district · 9 state decisions

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 251 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “courts of bankruptcy are essentially courts of equity, and their proceedings inherently proceedings in equity”

   4 later decisions quote this exact passage · from the majority
   e.g. Matter of Reading Company · Mesa Petroleum Co. v. Coniglio

2. “(1) He may disregard the bankruptcy proceedings, decline to file a claim and rely solely upon his security if that security is properly and solely in his possession. In Re Cherokee Public Service Co., 94 F.2d 536 ; Ward v. First Nat. Bank, 202 F. 609 . (2) He must file a secured claim, however, if the security is within the jurisdiction of the bankruptcy court and if he wishes to retain his secured, inasmuch as that court has exclusive jurisdiction over the liquidation of the security. Isaacs v. Hobbs Tie & Timber Co., 282 U.S. 734 [ 51 S.Ct. 270 , 75 L.Ed. 645 ] (1931); (3) He may surrender or waive his security and prove his entire claim as an unsecured one. In Re Medina Quarry Co., [2nd Cir.] 179 F. 929 ; Morrison v. Rieman, [7th Cir.] 249 F. 97 ; (4) He may avail himself of his security and share in the general assets as to the unsecured balance. Merrill v. National Bank of Jacksonville, 173 U.S. 131 [ 19 S.Ct. 360 , 43 L.Ed. 640 ]; Ex Parte City Bank, 3 How. 292, 315 [ 11 L.Ed. 603 ]."”

   2 later decisions quote this exact passage · from the majority
   e.g. In re Jesús · In Re De Jesus

3. “It permits the secured creditor to receive dividends along with the general creditors only on the balance remaining after the value of the security has been determined and deducted from the claim. This rule, commonly known as the bankruptcy rule, is designed to preclude any unwarranted advantage from accruing to the secured creditor. Grounded upon the statutory principle of equality and ratable distribution, it prohibits the secured creditor from reaping the whole benefit of his security while simultaneously taking dividends from the general assets on the basis of his entire claim as if he had no security. This rule differs from the one in equity, which allows the secured creditor to receive dividends on the full amount of his claim, crediting all dividends received and reserving the security against any deficiency.”

   2 later decisions quote this exact passage · from the majority
   e.g. John Caby & Associates, Inc. v. Community Federal Savings & Loan Ass'n · Lane Industries, Inc. v. Abramson