Securities Law Commons^™

Creditors' Rights And Security Transactions -- 1961 Tennessee Survey (Ii), Forrest W. Lacey

Vanderbilt Law Review

During the period under survey there were few cases dealing with creditors' rights or security transactions. One of these, Cannon Mills, Inc.v. Spivey,' presented the question of whether the mere filing of a bill to subject the property of an insolvent debtor for the benefit of creditors created a lien lis pendens, or whether registration of the lien was necessary before it became effective. The facts were as follows. A judgment creditor with a nulla bona return filed a general creditors' bill on October 18, to subject the property of an insolvent debtor for the benefit of all his creditors. …