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 1-35

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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. 1916 edition. Excerpt: ...undivided one-fifth of the real estate, and was entitled to one-fifth of the personal property which combined interest passed to and vested in the bankrupt's trustee as of the date of the adjudication, subject to the administration of the personal estate by the administrators of the deceased child. The mill property was insured for $47,200, and several months after the appointment of the trustee, was substantially destroyed by fire. By arrangement with the other owners of the property and the administrators of the deceased child, ignoring the trustee in bankruptcy, a bank which held an indorsed note of the bankrupt for $19,000 secured by collateral, secured the indorsement to itself of all checks given by the insurance companies, amounting to about $40,000. The four children transferred to the bank $19,000 in exchange for the bankrupt's note and the collateral, and the balance of the money was placed to the credit of the four children and the administrators of the deceased child, who were permitted to draw out the money by check, ignoring the trustee who owned a one-fifth interest therein. Held, that a summary proceeding against the bank alone to compel payment to the trustee of the amount still on deposit to the credit of said account was not proper, but that the trustee should be permitted to bring in the other parties and proceed to a hearing before the referee upon the merits. In re Kane, v. 20, p. 616. (D. C, Vt.) The interest of a bankrupt in his father's estate already vested, although undetermined, passes to his trustee in bankruptcy. In re Mosier, v. 7, p. 268. (Cal. Super. Ct.) Under the laws of California, the trustee of a bankrupt, who is an heir of a decedent, is vested with the heir's interest and estate and has the right to...show more

Product details

  • Paperback
  • 189 x 246 x 30mm | 1,021g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236971035
  • 9781236971036