Nichols v. Smith
Massachusetts Supreme Judicial Court
The first case was a bill in equity, filed March 19, 1886, by the assignee of Michael H. Brennan, an insolvent debtor, to recover possession of five shares of the capital stock of the Phoenix Brewing Company, alleged by the assignee to be illegally withheld from him by William Smith and Robert S. Engle, co-partners under the firm name of Smith and Engle.
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The first case was a bill in equity, filed March 19, 1886, by the assignee of Michael H. Brennan, an insolvent debtor, to recover possession of five shares of the capital stock of the Phoenix Brewing Company, alleged by the assignee to be illegally withheld from him by William Smith and Robert S. Engle, co-partners under the firm name of Smith and Engle. The second CASE was a petition, filed May 3,1886, by Smith and Engle, to revise a decree of the judge of insolvency refusing the petitioners permission to expunge a portion of their proof of claim in the insolvency proceedings of said…
1Opinion of the CourtW. Allen, J.
In proceedings under the insolvency law, when a creditor has a pledge of property of the debtor for securing the debt, the property shall, if the creditor requires it, be sold and the proceeds applied towards the payment of the debt, and the creditor may prove for the residue; or he may release and deliver up the property to the assignee, and prove for the whole debt. “ If the property is not so sold, or released and delivered up, the creditor shall not be allowed to prove any part of his debt.” Pub. Sts. e. 157, § 28.
Smith and Engle, their security not having been sold or surrendered to the…
2Cases cited5 opinions
- von Arnim v. American Tube WorksMassachusetts Supreme Judicial Court · 1905
- Bristol County Savings Bank v. WoodwardMassachusetts Supreme Judicial Court · 1884
- Cook v. FarringtonMassachusetts Supreme Judicial Court · 1870
- In re HubbardDistrict Court, D. Massachusetts · 1867
- In re JaycoxDistrict Court, N.D. New York · 1873
3Cited by6 opinions
- Hewitt v. HayesMassachusetts Supreme Judicial Court · 1910
- Hale v. LeatherbeeMassachusetts Supreme Judicial Court · 1900
- Raphael v. ReinsteinMassachusetts Supreme Judicial Court · 1891
- First National Bank v. PopeSupreme Court of Minnesota · 1902
- Nickerson v. ChaseSupreme Judicial Court of Maine · 1897
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