Columbus Electric Co. v. Worden
Court of Appeals for the Seventh Circuit
Appeal from the District Court of the United States for the District of Indiana. The Columbus Electric Company, the appellant, on the 9th of December. 1898, was the creditor of the Ft. Wayne Electric Corporation to the amount of $14,646.08, and on that day received the three notes of the debtor, each bearing date lip’on that day, and being for equal portions of the indebtedness, and payable, respectively, in 30, 60, and 90 days from that date.
Read the full summary
Appeal from the District Court of the United States for the District of Indiana. The Columbus Electric Company, the appellant, on the 9th of December. 1898, was the creditor of the Ft. Wayne Electric Corporation to the amount of $14,646.08, and on that day received the three notes of the debtor, each bearing date lip’on that day, and being for equal portions of the indebtedness, and payable, respectively, in 30, 60, and 90 days from that date. The first note matured January 11, 1899, and on the 20th of January, 1S99, that creditor received from its debtor, in part payment of the note, the sum…
1Opinion of the CourtJenkins, Circuit Judge
The question presented is this: Can a creditor, who has within four months of his debtor’s bankruptcy innocently received a payment upon his debt, he permitted to prove his debt in the bankruptcy proceeding, and to receive from the estate of the bankrupt a dividend thereon, without surrendering the preference received? The question is one purely of statutory law, and depends for its solution upon the construction to be given to certain sections of the bankruptcy act. 30 Stat. 541.
Section 00a defines a “preference” as follows:
“A person shall be deemed to have given a preference if, being…
2Cases cited1 opinion
- In re ConhaimDistrict Court, D. Washington · 1899
3Cited by24 opinions
- Swarts v. Fourth National BankCourt of Appeals for the Eighth Circuit · 1902
- Hackney v. Raymond Bros. Clarke Co.Nebraska Supreme Court · 1903
- Boonville National Bank v. BlakeyIndiana Supreme Court · 1906
- In re GilletteDistrict Court, W.D. New York · 1900
- Forgy v. FieldCourt of Appeals for the Ninth Circuit · 1900
19 more not listed; retrieve them via the Exa API.