United States Supreme Court Cases & Opinions

U.S. Supreme Court

Crites, Inc. v. Prudential Ins. Co., 322 U.S. 408 (1944)

Crites, Inc. v. Prudential Insurance Co.

No. 317

Argued March 1, 1944

Decided May 22, 1944

322 U.S. 408

Syllabus

1. A federal court receiver who, through a private agreement made prior to the foreclosure sale of the properties, derived a profit from their subsequent resale held accountable to the receivership estate for such profit notwithstanding that he had been appointed to collect rents and operate the properties and was without authority in respect of any sale thereof. P. 322 U. S. 416.

2. The fee-splitting arrangement entered into by the receiver in this case, together with the fact that he engaged in other misconduct incompatible with his position as an officer of the court, require that he be denied all fees and compensation as receiver. P. 322 U. S. 418.

134 F.2d 925 reversed.

Certiorari, 320 U.S. 728, to review a judgment which modified and affirmed an order of the District Court approving and confirming receivers' accounts and overruling exceptions thereto.