Victor v. Levy
New York Supreme Court
Appeal from special term, New York county. Action by George F. Victor and others against David Levy and others to set aside as fraudulent certain judgments and transfers-of account. From a final judgment confirming a referee’s report in favor of plaintiffs, and from an interlocutory judgment by which the referee was appointed, defendants appeal.
1Opinion of the CourtParker, J.
The” statute prevents a debtor, by a general assignment, from devoting more than one-third in value .of his estate to the payment of preferred creditors. 'Chapter 503, Laws 1887. But he may accomplish that result by omitting to make a general assignment, and, instead, confessing judgment to the more highly favored creditors, in an amount sufficient to exhaust his entire estate. Manning v. Beck, 129 N. Y. 1, 29 N. E. Rep. 90. That method of securing creditors whom the firm of D. Levy & Sons regarded as having stronger. equities appealing for protection than *645the others (and who happened to be…
2Cases cited4 opinions
- Billings v. . RussellNew York Court of Appeals · 1886
- Manning v. . BeckNew York Court of Appeals · 1891
- Stimson v. . WrigleyNew York Court of Appeals · 1881
- Abegg v. SchwabNew York Supreme Court · 1890
3Cited by2 opinions
- King v. MunzerThe Superior Court of New York City · 1894
- King v. MunzerThe Superior Court of the City of New York and Buffalo · 1894