Dwight v. Williams
New York Supreme Court
This action is brought to compel the defendant Williams to pay about $10,000 and interest, to the defendant W. A. Matteson as receiver of the Kirkland Iron Go., on the ground that the company paid that sum to Williams, as its president and treasurer, in the payment of his individual claims in contemplation of insolvency, thus giving him an illegal preference over the plaintiff’s assignor, Prof. Theodore W. Dwight, who was also a creditor of the company.
1Opinion of the CourtWright, J.
The company was insolvent to the knowledge of the trustees when the payments in question were made. The defendant WilEams claims that $54,028.51 of the amount was legally paid, because done in pursuance to an agreement between himself and the other members of the board of trustees, whereby the claim which he held against the company should have preference over all other debts, there being no other creditors interested; and he claims that the balance of said payment, viz., $16,329.10', was legally paid as a salary for services as general manager of this company.
The plaintiffs claim that all…
2Cases cited7 opinions
- Thompson v. . SimpsonNew York Court of Appeals · 1891
- Lomer v. . MeekerNew York Court of Appeals · 1862
- Throop v. Hatch Lithographic Co.New York Court of Appeals · 1891
- Farmers' Loan & Trust Co. v. Housatonic RailroadNew York Court of Appeals · 1897
- Jones v. . BlunNew York Court of Appeals · 1895
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Digennaro v. Gussie Building Corp.City of New York Municipal Court · 1932