In re H. B. Hollins & Co.
District Court, S.D. New York
In the matter of H. B. Hollins & Co., bankrupts. On motion by the alleged bankrupts for the payment of money to them. This is a motion by the alleged bankrupts to compel Grossman & Sielcken to pay over some $4,800, the balance of a fund which they hold in their hands under the circumstances hereinafter detailed. The alleged bankrupts have passed through a composition and are seeking to reduce to possession some of the assets of toe estate.
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In the matter of H. B. Hollins & Co., bankrupts. On motion by the alleged bankrupts for the payment of money to them. This is a motion by the alleged bankrupts to compel Grossman & Sielcken to pay over some $4,800, the balance of a fund which they hold in their hands under the circumstances hereinafter detailed. The alleged bankrupts have passed through a composition and are seeking to reduce to possession some of the assets of toe estate. Before bankruptcy the alleged bankrupts lent to Crossman & Sielcken $1,000,-000 upon the pledge of 1,200 New York City 4% per cent, bonds, on which they…
1Opinion of the CourtLearned Hand, District Judge
(after stating the facts as above). [1, 2] Crossman & Sielcken had the right to reclaim all the bonds upon payment of the total loan, but they had no right to reclaim any part: of them by paying a proportion of the loan. Had not the alleged bankrupts put it out of their power to deliver the 127 bonds pledged to the First National Bank and to the Equitable Trust Company, Crossman & Sielcken must have paid, not only the Chase-National Bank loan, which they have done, but $68,322.81 in addition, which is the balance of what the alleged bankrupts lent them. When they had done that, they might…
2Cases cited4 opinions
- Richardson v. ShawSupreme Court of the United States · 1908
- Skiff v. StoddardSupreme Court of Connecticut · 1893
- Harris v. City of PhiladelphiaSupreme Court of Pennsylvania · 1893
- In re Leavitt & GrantCourt of Appeals for the Second Circuit · 1914
3Cited by5 opinions
- In re Jefferson CountyUnited States Bankruptcy Court, N.D. Alabama · 2012
- In re HollinsCourt of Appeals for the Second Circuit · 1916
- In Re Jefferson County, Ala.United States Bankruptcy Court, N.D. Alabama · 2012
- In re H. B. Hollins & Co.District Court, S.D. New York · 1916
- Van Bomel v. Irving Trust Co.District Court, S.D. New York · 1931