Mason v. National Herkimer County Bank of Little Falls
Court of Appeals for the Second Circuit
Appeal from the District Court of the United States for the Northern District of New York. Action by Charles B. Mason, as trustee in bankruptcy of the National Herkimer County Bank of Little Ralls. From a decree of the District Court (163 Fed. 920) for complainant, defendant appeals. Reversed and remanded, with instructions to dismiss.
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Appeal from the District Court of the United States for the Northern District of New York. Action by Charles B. Mason, as trustee in bankruptcy of the National Herkimer County Bank of Little Ralls. From a decree of the District Court (163 Fed. 920) for complainant, defendant appeals. Reversed and remanded, with instructions to dismiss. The complainant is the trustee in bankruptcy of the Newport Knitting Company, a corporation under the laws of the state of New York, and lately engaged in the business of manufacturing knit goods at Newport, Herkimer county, N. Y. The defendant is a national…
1Opinion of the CourtNoyes, Circuit Judge
(after stating the facts as above). The one thing absolutely essential to a preference is that the bankrupt transfer *531sonic portion of his property to the creditor. If the creditor receive none of the bankrupt’s property, there is no preference. And that is the primary difficulty with the complainant's case. The defendant bank received no property or money of the Newport Company. The Sheard Company as indorser of the note took up and paid its own funds therefor — funds in which the Newport Company had no interest whatever. It is true that the Sheard Company at the time it paid the note was…
2Cited by10 opinions
- First Nat. Bank of Danville v. PhalenCourt of Appeals for the Seventh Circuit · 1932
- Ajax Shoe & Leather Co. v. SeligMassachusetts Supreme Judicial Court · 1940
- Bielaski v. National City Bank of New YorkDistrict Court, S.D. New York · 1932
- Jasson D. Radding, Inc. v. CoulterDistrict Court of Appeal of Florida · 1962
- Aiello v. CramptonCourt of Appeals for the Eighth Circuit · 1912
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