Tacoma Ass'n of Credit Men v. Lester

This is an interpleader action initiated by the assignee of the assets of the Northwest Sausage Company (Northwest), a Washington corporation, under a common law assignment for the benefit of creditors, to determine the relative rights of creditors of Northwest to proceeds which resulted from liquidation of Northwest’s assets. Disputants are the general creditors of Northwest, respondents here, and Arnold Doersam and his wife Nor ah, appellants here, who claim a superior interest in the proceeds as mortgagees of Northwest’s land. Arnold Doersam will hereafter be treated as if he were the sole…