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Bankruptcy--Life Insurance--Trustee Not Entitled To Case Surrender Value Of Policy, Arthur Mark Recht
Bankruptcy--Life Insurance--Trustee Not Entitled To Case Surrender Value Of Policy, Arthur Mark Recht
West Virginia Law Review
No abstract provided.
Bankruptcy -Test Of Insolvency - Fair Valuation Of Debtor's Assets, William F. Hood
Bankruptcy -Test Of Insolvency - Fair Valuation Of Debtor's Assets, William F. Hood
Michigan Law Review
An objecting creditor seeking to preserve his judgment lien appealed from an order adjudicating B a bankrupt. The alleged act of bankruptcy was that B, while insolvent, permitted the objecting creditor to obtain a lien on his property by judicial proceedings and failed to discharge it within thirty days. B's principal asset was his interest in a spendthrift trust fund, valued at more than a million dollars, set up in favor of B and his brother. Under the terms of the trust each beneficiary was to receive one-half the approximately $44,000 a year income until he reached the …
Bankruptcy-Disposition Of Insurance Policy Assigned To Beneficiary
Bankruptcy-Disposition Of Insurance Policy Assigned To Beneficiary
Michigan Law Review
Mrs. Humphrey was the beneficiary in an insurance policy taken out by her husband on his own life. He assigned this policy to her at a time when it was pledged to the insurance company for loans slightly in excess of the cash surrender value. Mr. Humphrey died after Mrs. Humphrey had filed her voluntary petition in bankruptcy. Held, the policy is not an asset of the bankrupt estate, but belongs to Mrs. Humphrey rather than the trustee. Curtis v. Humphrey, (C. C. A. 5th, 1935) 78 F. (2d) 73.