National Bank of Newport v. National Herkimer County Bank of Little Falls
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE SECOND CIRCUIT. The facts, which involve' the question of whether a payment was an illegal preference under the Bankruptcy Act of 1898, are stated in the opinion. Payment of the note was preferential. The uncontradicted evidence shows that the debtor was insolvent at the time of the payment. There was a payment or transfer of property to defendant or for its benefit.
Read the full summary
APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE SECOND CIRCUIT. The facts, which involve' the question of whether a payment was an illegal preference under the Bankruptcy Act of 1898, are stated in the opinion. Payment of the note was preferential. The uncontradicted evidence shows that the debtor was insolvent at the time of the payment. There was a payment or transfer of property to defendant or for its benefit. The payment or transfer of property was. a pref~. erence and the recipient received more, upon its debt, than the other creditors of the .bankrupt. : The creditor, knew or had…
1Opinion of the CourtJustice Hughes
This suit was brought in the District Court of the United States for the Northern District of New York by Charles B. Mason, as trustee in- bankruptcy of the Newport Knitting Company, to recover the.amount of an alleged preference.. Decree for the complainant was reversed by the Circuit, Court of Appeals, which remanded the cause with instructions to dismiss the bill. Mason v. National Herkimer County Bank, 172 Fed. Rep. 529. Subsequently, the trustee assigned the claim in suit to the National Bank of Newport, New York, which was substituted as complainant and brought this appeal.
The bankrupt,…
2Cases cited2 opinions
- Western Tie & Timber Co. v. BrownSupreme Court of the United States · 1905
- Rector v. City Deposit Bank Co.Supreme Court of the United States · 1906
3Cited by173 opinions
- Louis W. Levit, Trustee of V.N. Deprizio Construction Co. v. Ingersoll Rand Financial CorporationCourt of Appeals for the Seventh Circuit · 1989
- Merrill v. Abbott (In Re Independent Clearing House Co.)United States Bankruptcy Court, D. Utah · 1984
- Wjm, Inc., Etc. v. Massachusetts Department of Public WelfareCourt of Appeals for the First Circuit · 1988
- Mack v. NewtonCourt of Appeals for the Fifth Circuit · 1984
- In the Matter of Compton Corp., Debtor. Walter Kellogg, Trustee v. Blue Quail Energy, Inc., and Mbank Abilene, N.A.Court of Appeals for the Fifth Circuit · 1988
168 more not listed; retrieve them via the Exa API.