Benjamin N. Cardozo

“ At the suit of a simple contract creditor, a receiver of the property of the Worden Grocer Company, a Michigan corporation, engaged in business at its domicile, was appointed by a Federal District Court in Michigan on February 9, 1926. The bill of complaint alleged that the defendant was solvent, and that if its business was handled by a receiver free from interference by its creditors, it would be able to pay its debts in full and would have a surplus available for preferred and common stockholders. ”

“ Viewing the receivership in its true light as one, not to wind up the corporation, but to foster the assets, we think the annual taxes accruing while the receiver was in charge must be deemed expenses of administration and therefore charges to be satisfied in preference to the claims of general creditors. ”

“ Problems of statutory construction do not arise unless the meaning of a statute is obscure or uncertain in its relation to a set of facts, and obscurities or uncertainties thus arising are not susceptible of settlement unless the words of the statute are read in a setting of commonlaw implications, a background of commonlaw doctrine, giving meaning and perspective to a vague and imperfect outline. ”

“ Title Guarantee & Trust Co., supra; Bright v. Arkansas (C. C. A.) 249 F. 950; McFarland v. Hurley (C. C. A.) 286 F. 365; People v. Hopkins (C. C. A.) 18 F. (2d) 731, 733; cf. In re Tyler, 149 U.S. 164, 182, 13 S.C.t. ”