Lyon v. Singer - 339 U.S. 841 (1950)
U.S. Supreme Court
Lyon v. Singer, 339 U.S. 841 (1950)
Lyon v. Singer
Argued April 18-19, 1950
Decided June 5, 1950
339 U.S. 841
1. In these suits to collect from a statutory bank liquidator claims allegedly entitled to preference under New York Banking Law § 606, arising from transactions with a Japanese corporation blocked under Executive Orders Nos. 8389 and 8832, this Court accepts the determination of the New York Court of Appeals that, under New York law, these claims arose from transactions in New York, and were entitled to preference. Pp. 339 U. S. 842-843.
2. Since the New York court conditioned enforcement of the claims upon licensing by the Alien Property Custodian, federal control over alien property remains undiminished. Propper v. Clark, 337 U. S. 472, distinguished. P. 339 U. S. 842.
3. This Court agrees that, at the time the New York judgments were entered, no license had been issued to these claimant, and it affirms the judgments below. P. 339 U. S. 843.
299 N.Y. 113, 139, 85 N.E.2d 894, 906, affirmed.