Western Type Foundry v. Central Trust Co.
Court of Appeals for the Seventh Circuit
Petition to Review and Revise an Order of the District Court of the United States for the Eastern Division of the Northern District of Illinois; J. Otis Humphrey, Judge. In the matter of the Caslon Press, bankrupt. A petition for tire payment of the Western Type Foundry in priority to the claims of unsecured creditors, opposed by the Central Trust Company of Illinois, trustee of the bankrupt, was dismissed, and the claimant files a petition to revise.
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Petition to Review and Revise an Order of the District Court of the United States for the Eastern Division of the Northern District of Illinois; J. Otis Humphrey, Judge. In the matter of the Caslon Press, bankrupt. A petition for tire payment of the Western Type Foundry in priority to the claims of unsecured creditors, opposed by the Central Trust Company of Illinois, trustee of the bankrupt, was dismissed, and the claimant files a petition to revise. Petition to revise denied. An unacknowledged Illinois chattel mortgage was executed in August, 1912,-for a present loan, and a promise to give…
1Opinion of the CourtMack, Circuit Judge
(after stating the facts as above). Unless petitioner’s liens were validly created as against the trustee by the unacknowledged mortgage and by the promise to execute a mortgage, they cannot be upheld; all subsequent acts were performed within the four months period, during the debtor’s insolvency and with the creditor’s knowledge thereof, so that, if effective only from the later date, they operated to create voidable preferences under section 60 of the Bankruptcy Act.
Petitioner concedes that, although good as against the debtor, both would be invalid in Illinois as against a lien creditor…
2Cases cited10 opinions
- Loeser v. Savings Deposit Bank & Trust Co.Court of Appeals for the Sixth Circuit · 1906
- Carey v. DonohueCourt of Appeals for the Sixth Circuit · 1913
- Dougherty v. First Nat. Bank of CantonCourt of Appeals for the Sixth Circuit · 1912
- Deupree v. WatsonCourt of Appeals for the Sixth Circuit · 1914
- Rasmussen v. McKeyCourt of Appeals for the Seventh Circuit · 1910
5 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Albert Pick & Co. v. WilsonCourt of Appeals for the Eighth Circuit · 1927
- Chicago Title & Trust Co. v. Central Trust Co.Court of Appeals for the Seventh Circuit · 1917
- Hirschfeld v. NogleDistrict Court, E.D. Illinois · 1933
- In re A. E. Savage Baking Co.District Court, D. New Jersey · 1919
- Heil Co. v. KelleyCourt of Appeals for the Seventh Circuit · 1933
2 more not listed; retrieve them via the Exa API.