People v. . American Loan Trust Co.
New York Court of Appeals
Cross-appeals from an order of the Appellate Division of the Supreme Court in the first judicial department, entered November 12, 1903, which modified and affirmed as modified an order of Special Term directing the distribution of funds in the hands of the receiver herein.
1Opinion of the Court
Per Gwriam.
So much has been written in the various phases of the proceeding now before us for final review that we need do no more than state our conclusion in the light of a single prefatory observation .as to the nature and purpose of the proceeding. Its object is to secure a “a just and fair distribution of the property of the corporation, and of jhe proceeds thereof, among its fair and honest creditors.” (Section .1193, Code Civ. Pro.) The parties now before the court are all “fair and honest” creditors in the same class. Justice and equity, therefore, no less than the express command of…
2Cited by3 opinions
- People v. . American Loan Trust Co.New York Court of Appeals · 1904
- People v. Federal BankAppellate Division of the Supreme Court of the State of New York · 1907
- Raymond v. Security Trust & Life InsuranceNew York Supreme Court · 1904