In re the Assignment of Coffin

No fault is found with the proceedings of the assignee until he attempted to make money for himself by his management of the assigned estate. He conceived the idea of inducing the creditors of Coffin & Lyon to release their claims against the assigned estate for less than the estate would have yielded to them on an honest administration; and to accomplish his purpose he addressed a circular letter to them, in which he stated that the law gave him seven months more time to settle the estate, and that it was for their interest to accept a final dividend of fifteen per cent, immediately, which…