In re Horgan
District Court, S.D. New York
In Bankruptcy. On certificate of referee. On August 3, 1899, a voluntary petition in bankruptcy was filed in this court by the firm of Horgan & Slattery, composed of the two partners Arthur J. Horgan and Vincent J. Slattery, and the firm and its members were on that day duly adjudged bankrupts, and the case was referred to Stanley W. Dexter, Esq., referee in bankruptcy.
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In Bankruptcy. On certificate of referee. On August 3, 1899, a voluntary petition in bankruptcy was filed in this court by the firm of Horgan & Slattery, composed of the two partners Arthur J. Horgan and Vincent J. Slattery, and the firm and its members were on that day duly adjudged bankrupts, and the case was referred to Stanley W. Dexter, Esq., referee in bankruptcy. As bearing on the present question in the case, the referee certified that the following facts appeared in the proceedings had before him: The partnership, composed of Horgan and Slattery, as above mentioned, was formed for…
1Opinion of the Court
BROWN, District Judge.
The examination of the books should be allowed and made, so far as to ascertain what sums if any were owing to the Horgan & Slattery corporation at the time of the adjudication, because the circumstances already in evidence justify the court in treating the corporation as a mere fiction, and the sums due to it as assets of the bankrupts.
It would be intolerable if the discovery of assets in bankruptcy were to be embarrassed and delayed by mere transparent and fictitious devices to shield property from creditors.
If the corporation were apparently a bona fide outside…
2Cases cited4 opinions
- Lachman v. MartinIllinois Supreme Court · 1891
- Tripp v. ChildsNew York Supreme Court · 1852
- Henry v. Travelers' Ins.U.S. Circuit Court for the District of Colorado · 1888
- Hyde v. FreyU.S. Circuit Court for the District of Indiana · 1886
3Cited by4 opinions
- Martin v. D. B. Martin Co.Court of Chancery of Delaware · 1913
- Scott v. CommissionerUnited States Tax Court · 1978
- Crocker-Wheeler Co. v. BullockU.S. Circuit Court for the District of Southern Ohio · 1904
- Scott v. CommissionerUnited States Tax Court · 1978