Cannon Mills, Inc. v. Spivey

This is a general creditors’ suit to subject the property of the insolvent debtor, defendant Spivey, for the benefit of complainant and all his other creditors. He made no defense, the bill was sustained, and the cause is being wound up in the Chancery Court.

The part of it brought up by this appeal is a controversy over a lot (Lot 13) of defendant Spivey, described in the bill and lying in the county where he lived and where this suit was brought. Two of his creditors, the American National Bank and Trust Company (Bank) and the New-Tex Hosiery Corporation (New-Tex), claimed priority to this…