American Bankruptcy Reports; Annotated, (Cited Am. B. R.)

American Bankruptcy Reports; Annotated, (Cited Am. B. R.) : Reporting the Bankruptcy Decisions and Opinions in the United States, of the Federal Courts, State Courts and Referees in Bankruptcy Volume 9

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1903 edition. Excerpt: ...into the bankruptcy court? Not as secured creditors seeking to prove up a secured claim to the extent of its excess beyond the value of security held by them. The record indicates they have a claim, in a considerable amount, that could have been proved; but they have seen fit not to prove it, and will therefore forego the privilege of sharing with the general creditors in dividends declared. Ycaiman v. Institution, supra. I. Hirsch & Son come as interveners seeking to subject. certain funds, which arose from the sale of the property on which they claim a lien, to the part payment of an alleged indebtedness. They have a right to come in this way. Fisher v. Cushman, 4 Am. B. R. 646, 43 C. C. A. 381, 103 Fed. 860, 51 L. R. A. 292; In re Oconee Milling Co., 6 Am. B. R. 475, 48 C. C. A. 703, 109 Eed. 866. They must plead and prove the existence of their debt and security. Their proof must be evidentiary in nature, and support the material averments of their application. It cannot conform to any provisions of the act, or rule, or prescribed form, because there is none covering it. The referee should have proceeded to hear the application of the claimants I. Hirsch & Son, and determine their right to the fund on the proof submitted. The referee will proceed as abovo indicated, and, in event he concludes from the evidence adduced before him that the fund in the registry of the court should be applied on the secured indebtedness of I. Hirsch & Son, he will tax all costs of the proceeding resulting in the sale of the property against them, because they now seek to take advantage of the acta of the bankruptcy court in reducing their security, and did not protest against such acts. The costs of this certificate will bo taxed against the...
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Product details

  • Paperback | 356 pages
  • 189 x 246 x 19mm | 635g
  • United States
  • English
  • black & white illustrations
  • 1236903528
  • 9781236903525