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Articles 121 - 128 of 128

Full-Text Articles in Bankruptcy Law

Bankruptcy -- Fraudulent Conveyances -- Dealings Between One-Man Corporations Owned By One Person May 1933

Bankruptcy -- Fraudulent Conveyances -- Dealings Between One-Man Corporations Owned By One Person

Michigan Law Review

H was president of corporations A, B, and C. Through his control of B and C he secured personal advances approximating $600,000. This money he loaned as personal funds to A which through its directors and officers, in their official capacities, was aware of the source of the funds though not of the exact amounts nor of the fact of unlawful diversion. F bank held certain matured promissory notes of B upon which H had become obligated as guarantor. B and H were in financial difficulties and F bank threatened to throw H into bankruptcy.A thereupon, and …

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Receivers - Consent Receivership Not Allowed In Michigan May 1933

Receivers - Consent Receivership Not Allowed In Michigan

Michigan Law Review

A general creditor filed a bill alleging that the defendant corporation's assets as shown by its books have a value in excess of its indebtedness but that it cannot meet its current obligations although its assets, when converted into money would be sufficient to meet them and continue its business; that several suits have been instituted by defendant's creditors and that if executions are issued and levies made, defendant will be compelled to cease operations and losses will be suffered by all of defendant's creditors, whereas, if a receiver is appointed to operate its business their claims may be paid …

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Interest On Claims In Receivership Proceedings, Ralph E. Clark Nov 1920

Interest On Claims In Receivership Proceedings, Ralph E. Clark

Michigan Law Review

Outside the cases of receivership, the Supreme Court of the United States has said: "We reach the conclusion that whatever may have been the English and early American rule, the tendency in Virginia as elsewhere in this country, is to allow interest on contracts to pay money from the date that the debt becomes due."'

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The Federal Bankruptcy Act And Its Effect On State Insolvency Laws, Evans Holbrook Jan 1918

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 …

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Execution Sales As Preferential Transfers In Bankruptcy, Evans Holbrook Jan 1917

Execution Sales As Preferential Transfers In Bankruptcy, Evans Holbrook

Articles

In the recent case of Golden Hill Distilling Co. v. Logue, 243 Fed. 342, the Circuit Court of Appeals for the Sixth Circuit holds that a "creditor who recovers a judgment, by consent or in invitum, and by execution sale collects his money within four months preceding bankruptcy, and with reasonable cause to believe [that a preference would thereby be effected] receives a voidable preference, which he must repay to the trustee." This question is one that has vexed the bankruptcy courts ever since the Supreme Court of the United States in Clarke v. Larremore, 188 U. S. 486, declined …

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When Is A Preferential Transfer Required To Be Recorded?, Evans Holbrook Jan 1916

When Is A Preferential Transfer Required To Be Recorded?, Evans Holbrook

Articles

In the recent case of Carey v. Donohue, 36 Sup. Ct. 386, the Supreme Court of the United States has passed on a question that has for years been vexing the Circuit Courts of Appeals, namely: When is the recording of a preferential transfer "required" under § 60 of the'Bankruptcy Act of 1898 as amended in 1903 and 1910. § 60a (as amended in 1903) defines a preference as a transaction by which property of an insolvent debtor is transferred, within four months before his bankruptcy, in such a way that the debt owing to one of his creditors will …

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A Surety's Claim Against His Bankrupt Principal Under The Present Law, Evans Holbrook Jan 1912

A Surety's Claim Against His Bankrupt Principal Under The Present Law, Evans Holbrook

Articles

The peculiar three-sided relationship of principal, surety and creditor gives rise to many vexatious questions of law, and one of the most interesting of these vexatious questions is that of the relationship between surety and principal in the case of the latter's bankruptcy. Under such circumstances, the creditor's right is fairly simple; he may prove his debt against the principal, take such dividend as may be declared, and recover the balance of the debt from the surety, his remedy against the latter being expressly saved by Sec. 16 of the present Bankruptcy Act.1 But the position of the surety is …

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Foreign Voluntary Assignments For The Benefit Of Creditors, Edson R. Sunderland Jan 1903

Foreign Voluntary Assignments For The Benefit Of Creditors, Edson R. Sunderland

Articles

AlI laws concerning property rights are based upon the broad - doctrine that every person who owns property may dispose of the same as he sees fit. The right of disposal of property is inseparably united to the right of property itself, and indeed is an essential element of the concept of property. It might even serve as a definition of property, viewing property as that which one may dispose of,-a definition too general, it is true, for practical purposes, but undoubtedly a correct and valuable metaphysical theorem

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