Ohio Valley Banking Trust Company v. King

Opinion op the Court by

Stanley, Commissioner—

Eeversing in part and affirming in part.

In September, 1924, Lee Baskett, whose gross estate was estimated at nearly a million dollars, under an agreement with substantially all of his creditors, conveyed his property to a committee of three men who were vested with such powers as seemed sufficient to manage and dispose of the estate in order to liquidate Baskett’s indebtedness. Within a month the committee filed a petition for advice ofi the chancellor. Three ¡years thereafter, while the committee’s suit was pending and active, the appellants, Ohio…