Williams v. Banana Distributing Co.

SIMONS, Circuit Judge.

In Michigan, any instrument, including a trust mortgage, which conveys all of the assets of a debtor to a trustee for the benefit of his creditors without preference, is construed as an assignment for the benefit of creditors. Murray Brothers v. Circuit Judge, 241 Mich. 312, 216 N. W. 914; Kendall v. Bishop, 76 Mich. 634, 43 N. W. 645; Warner v. Littlefield, 89 Mich. 329, 50 N. W. 721; Hill v. Mallory, 112 Mich. 387, 70 N. W. 1016. Section 15352 of the Compiled Laws of Michigan of 3929 provides that all assignments commonly called common-law assignments for the benefit…