In re Julius Bros.
District Court, S.D. New York
In the matter of Julius Bros., bankrupts. On application for discharge, Lewis Frank & Sons and others filed objections. This is an application for a discharge in bankruptcy. The referee has reported against the discharge upon the ground that the bankrupts conveyed their property within four months of the bankruptcy, with intent to hinder, delay, or defraud their creditors.
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In the matter of Julius Bros., bankrupts. On application for discharge, Lewis Frank & Sons and others filed objections. This is an application for a discharge in bankruptcy. The referee has reported against the discharge upon the ground that the bankrupts conveyed their property within four months of the bankruptcy, with intent to hinder, delay, or defraud their creditors. The bankrupts made an assignment of all their assets to a corporation in exchange for $1,550, which was to be páid to their attorney, who also represented the creditors’ committee appointed at a meeting of all creditors,…
1Opinion of the Court
HAND, District Judge.
It is undoubtedly a question of some un-. certainty whether an assignment for the benefit of creditors will bar-a.discharge, and if the bankrupts in this case had unconditionally assigned their assets for distribution among their creditors I should feel some doubt of the correctness of the master’s report. Reed v. McIntyre, 98 U. S. 507, 25 L. Ed. 171. However, they did nothing of the sort. They sold their assets to a corporation made up of their relatives, and gave the purchase price to their attorney to distribute, upon condition that each creditor should compromise his…
2Cases cited3 opinions
- Reed v. McIntyreSupreme Court of the United States · 1879
- In re CondonDistrict Court, S.D. New York · 1912
- South Danvers National Bank v. StevensAppellate Division of the Supreme Court of the State of New York · 1896
3Cited by1 opinion
- In re BrausDistrict Court, S.D. New York · 1916