Reports of Bankruptcy and Company Cases Decided in the High Court of Justice Volume 8

Reports of Bankruptcy and Company Cases Decided in the High Court of Justice Volume 8

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1901 edition. Excerpt: ... interests in case of assignment or incumbrance, that, although bankruptcy on the initiative of a creditor is not to be regarded as amounting to an assignment or incumbrance by the act of the debtor: see Doe d. Goodbchere v. Bevan (5), Lear v. Leggett 1830 (13), Holland v. Cole 1862 (14), and Doc d. Lloyd v. Powell 1826 (15); yet the assignment which necessarily and inevitably resulted under the Insolvents Relief Acts from a debtor's petition under those Acts did amount to a voluntary assignment or incumbrance or disposition: Shee v. Hale 1807 (16), and Rochford v. Hackman (9). But in all the cases of that kind which I have found, the words used in the will were made larger than the mere word "assign." They have usually been the most comprehensive which the draftsman could find. For instance, in In re Amherst's Trusts (10) they were "assign over, assure, mortgage, or in any manner incumber, or by any instrument in writing, parol agreement, or otherwise howsoever part from" the income. Moreover, all those cases, except In re Amherst's Trusts (10), were determined upon statutes under which the debtor's petition ipso facto effected an assignment of the debtor's property for the benefit of creditors; but under the Bankruptcy Act, 1883, even upon a debtor's petition asking for adjudication, the adjudication does not follow automatically. The Court has a discretion in the matter, and unless the Court in its discretion adjudicates, the creditors may prefer to accept a composition. Therefore Mr. Justice Cave, in Ex parte Dawes, In rc Moon (11), held that the debtor's petition under the Bankruptcy Act, 1883, did not of itself amount to an assignment. In that case the creditors had accepted (13) 1 Buss. & M. 690; 7 L. J. (O. S.) Ch....
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Product details

  • Paperback | 176 pages
  • 189 x 246 x 10mm | 327g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236627172
  • 9781236627179