National Bankruptcy Register Reports Volume 9

National Bankruptcy Register Reports 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. 1874 edition. Excerpt: ... work no practical legal consequence. If there is any doubt as to the power of the court, without cross-bills, to sell the additional assets mentioned in the subsequent mortgages, such bill would be directed to be filed. Davis v. Gray, 16 Wall, 203, elaborately reviews the doctrines in regard to receivers in courts of equity, and lays down the undoubted rule that no party having interest in the estate, whether impleaded or not, can properly commence an original suit without leave of court. Had such leave been asked in this instance, beyond all controversy it would not have been granted, from the fact that such suits are wholly unnecessary and can tend only to make cbsts. Indeed, it is not Sutherland et al. v. Lake Superior Ship Canal, Railroad & Iron Co. perceived how it is possible to make a complete decree in either the Birdseye or the McCarter suits, and to settle the amounts due upon the previous encumbrances, in such circumstances as to give all the parties proper review in the court of last resort without making them parties in each suit where those facts are to be settled, at great length and with much earnestness counsel for the mortgagee has argued that there is no objection whatever to selling property so circumstanced, subject to the rights of Sutherland and the receiver. This position is directly answered in the very full opinion of NELs0N, J., in Wiswall v. Sampson, 14 How. 52. It is there stated in express terms that it is no answer to the objection that the sale is to be made subject to the rights of the receiver; that the court will not suffer a hostile claimant to be created, whose rights are to be subsequently settled in another tribunal. It is fallacy to argue that a receiver holds subject to the rights of the...show more

Product details

  • Paperback | 206 pages
  • 189 x 246 x 11mm | 376g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236815114
  • 9781236815118