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The Federal Bankruptcy Act And Its Effect On State Insolvency Laws, Evans Holbrook
The Federal Bankruptcy Act And Its Effect On State Insolvency Laws, Evans Holbrook
Articles
Since Sturgis v. Crowninshield, 4 Wheat. 122, it has been clear that State Insolvency Laws were valid (within certain well-defined limits) during the non-existence of a Federal Bankruptcy Act, and that upon the enactment of a Federal Bankruptcy Act the State laws were superseded and suspended so far as they were in conflict with the Federal legislation. The difficulty has been in determining when there was such conflict, and it has arisen in various ways. For instance, the Federal Bankruptcy Act permits any natural person to become a voluntary bankrupt, but provides that no involuntary proceedings shall be taken against …
When Is A Preferential Transfer 'Required' To Be Recorded? , Evans Holbrook
When Is A Preferential Transfer 'Required' To Be Recorded? , Evans Holbrook
Articles
The BANKRUPTCY ACT of 1898 (as amended in 1903 and 1910), after defining a preference, provides in § 60b that preferences made under certain circumstances may be recovered from the preferred creditor if the latter had "reasonable cause to believe" that a preference was to be effected "at the time of the transfer * * * or of the recording or registering of the transfer if by law recording or registering thereof is required," such time being within four months before bankruptcy. Bankrupcty courts have for years been vexed with the question: When is a transfer "required" to be recorded …