Banco Mexicano v. Deutsche Bank
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263 U.S. 591 (1924)
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U.S. Supreme Court
Banco Mexicano v. Deutsche Bank, 263 U.S. 591 (1924)
Banco Mexicano de Commercio e Industria v. Deutsche Bank
Argued January 9, 1924
Decided January 21, 1924
263 U.S. 591
1. A suit in equity brought under § 9 of the Trading with the Enemy Act, against the Alien Property Custodian, the Treasurer of the United States and a foreign corporation, to establish a debt of the corporation to the plaintiff, as a claim against its property seized under the act and held by the Custodian and the Treasurer, is in effect a suit against the United States, and can therefore be maintained only under the conditions laid down in the act. P. 263 U. S. 603.
2. Where money was lent by liquidators of a Mexican bank at New York to a German bank, and deposited by the borrower to its general credit with a trust company in that city, and, after the outbreak of the late war, before the loan fell due, the deposit with other assets of the borrower was taken over by the Alien Property Custodian, held that suit to collect the loan could not be maintained by the Mexican bank under the above statute, since the debt was not one that "arose with reference to the money or other property held." P. 263 U. S. 599.
3. The fact that, under the law of New York, the debt, when due, might have been collected by attachment of the property, had this not been seized under the statute, did not alter the case. P. 263 U. S. 602.
4. Legislative history of this statute, including remarks of a congressman explaining the bill, held not to determine its construction. P. 263 U. S. 601.
289 F. 924 affirmed.
Appeal from a decree of the Court of Appeals of the District of Columbia affirming a decree of the Supreme Court of the District which, on motion, dismissed the bill in a suit to enforce a claim under the Trading with the Enemy Act.