MacDonald v. Aetna Indemnity Co.
Supreme Court of Connecticut
Application in receivership proceedings for an adjudication of how much, if any, of a trust fund formerly held by the treasurer of the State for the benefit of the policyholders of the insolvent defendant and now in the hands of the receiver, should be transferred to the general assets for the payment of creditors other than policyholders, brought to and tried by the Superior Court in Hartford County, Gager, J.; facts found and judgment rendered authorizing the receiver to…
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Application in receivership proceedings for an adjudication of how much, if any, of a trust fund formerly held by the treasurer of the State for the benefit of the policyholders of the insolvent defendant and now in the hands of the receiver, should be transferred to the general assets for the payment of creditors other than policyholders, brought to and tried by the Superior Court in Hartford County, Gager, J.; facts found and judgment rendered authorizing the receiver to transfer the sum of $112,235 from the special trust fund to the account of the general assets, from which certain…
1Opinion of the CourtRoraback, J.
The brief of the appellants states their case in this way: “The receiver in this case is acting in a dual capacity; he is for general purposes liquidating the affairs of this insolvent corporation; he is for a special purpose, namely, the benefit of the policyholders, administering a trust fund which has been committed to his care by the provisions of the statute.” In this connection it is also urged by the appellants, that “as a going concern the policyholders had an interest in all the assets of the corporation and a special lien upon the trust fund; the general creditors had no interest…
2Cases cited3 opinions
- Trustees v. GreenoughSupreme Court of the United States · 1882
- In Re the Equitable Reserve Fund Life Ass'nNew York Court of Appeals · 1892
- Attorney-General v. North American Life InsuranceNew York Court of Appeals · 1882
3Cited by2 opinions
- Bassett v. Merchants Trust Co.Supreme Court of Connecticut · 1932
- Maurer v. International Re-Insurance Corp.Court of Chancery of Delaware · 1934