Summary

Louis Brandeis Lion Bonding Surety Company v. Karatz…

The federal court did not seek to gain possession and control of the Nebraska property until three months after entry of the decree of the state court directing the department (which had possession of the res) to proceed with the liquidation. The case is thus free of those features which sometimes create difficulty in determining conflicts between courts of concurrent jurisdiction.
Where a court of competent jurisdiction has, by appropriate proceedings, taken property into its possession through its officers, the property is thereby withdrawn from the jurisdiction of all other courts.
Source: Wikisource

Louis Brandeis Lion Bonding Surety Company v. Karatz…

It cannot be a umed that the assets of an insurance company are of that character. Those of this company, within the Minnesota district, specifically described in the Karatz bill, were alleged to consist of money and credits. The description of the property in Nebraska, given in the Hertz bill, is 'cash, mortgages and other securities, bills receivable, real estate, stocks, and bonds.' The provisions of section 56 extending the operation of a receivership to other districts of the same judicial circuit were therefore inapplicable to this case.
Source: Wikisource

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