United States v. Pink
United States Supreme Court
315 U.S. 203 (1942)
In 1907, the New York branch of the First Russian Insurance Co. (FRIC) was organized under the former Russian government. In 1919, the newly created Russian government nationalized Russian insurance companies, including FRIC, and canceled all company debts and shareholder rights. FRIC continued to do business in New York until 1925, when the Supreme Court of New York ordered that Pink (defendant), the New York Superintendent of Insurance, take control of FRIC’s assets. After Pink paid FRIC’s U.S. creditors, there remained a balance of more than $1,000,000. In 1931, the New York Court of Appeals ordered Pink to use the balance to first pay FRIC’s foreign creditors who had previously filed attachments, then pay any surplus to FRIC’s board of directors. This action was stayed, however, due to a claim on FRIC’s assets by the United States (plaintiff). In 1933, the United States recognized the new Russian government and accepted Russia’s Litvinov Assignment regarding certain claims. The United States, in honoring the Litvinov Assignment, sued Pink to recover the remaining assets under Pink’s control.
Rule of Law
Holding and Reasoning (Douglas, J.)
What to do next…
Unlock this case brief with a free (no-commitment) trial membership of Quimbee.
You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 705,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.Unlock this case briefRead our student testimonials
Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.
Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.Learn about our approachRead more about Quimbee
Here's why 705,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 44,300 briefs, keyed to 983 casebooks. Top-notch customer support.
- The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
- Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
- Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.