In re Beachy & Co.
District Court, E.D. Wisconsin
In'Bankruptcy. On review of decision of referee. This is a statutory review of an adjudication made by Hon. E. Q. Nye, referee in bankruptcy, whereby the claim of Jacob Baskin against the bankrupt corporation was allowed. The objections filed by the trustee to such claim are as follows: First. That no amount is due or owing from said bankrupt to said Jacob Baskin. Second.
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In'Bankruptcy. On review of decision of referee. This is a statutory review of an adjudication made by Hon. E. Q. Nye, referee in bankruptcy, whereby the claim of Jacob Baskin against the bankrupt corporation was allowed. The objections filed by the trustee to such claim are as follows: First. That no amount is due or owing from said bankrupt to said Jacob Baskin. Second. That said Jacob Baskin was guilty of fraud in securing the charter for said corporation, and was guilty of violating the corporation laws of Illinois under which said corporation was formed, and that such fraud and such…
1Opinion of the CourtQuarles, District Judge
(after stating the facts as above). The bankrupt corporation, having had the money and goods covered by the claim, would, upon the plainest principles be estopped to raise any of the objections based upon malfeasance of the officers of the corporation, and it is difficult to see why the trustee is not affected by the same estoppel. Speaking broadly, the theory of the bankruptcy act of July 1, 1898, c. 511, 30 Stat. 544 (U. S. Comp. St. 1901, p. 3418), is that the trustee steps into the shoes of the bankrupt, subject to the same liens, conditions, and restrictions under which the bankrupt…
2Cases cited14 opinions
- Huntington v. AttrillSupreme Court of the United States · 1892
- Wisconsin v. Pelican InsuranceSupreme Court of the United States · 1888
- York Manufacturing Co. v. CassellSupreme Court of the United States · 1906
- Merrill v. National Bank of JacksonvilleSupreme Court of the United States · 1899
- Hewit v. Berlin MacHine WorksSupreme Court of the United States · 1904
9 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Barnes v. HirschAppellate Division of the Supreme Court of the State of New York · 1925
- Stodd v. GoldbergerCalifornia Court of Appeal · 1977
- John V. Farwell Co. v. Jackson StoresSupreme Court of Georgia · 1911
- Aiken v. InsullCourt of Appeals for the Seventh Circuit · 1941
- Seegmiller v. DayCourt of Appeals for the Seventh Circuit · 1918
8 more not listed; retrieve them via the Exa API.