In re the General Assignment for the Benefit of Creditors of Fulton
New York Supreme Court
Appeal' by Charles M. Yallean, one of the assignees and a creditor, from that part of the decree of the Niagara County Court made on a final accounting by tbe assignees, which allowed John T. Rush the appellant’s co-assignee commissions on $119,000, the unincumbered value of certain of the assigned property, instead of on $31,500 the amount actually received in cash by the assignees for the incum. bered interest sold. There was some additional personal property.
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Appeal' by Charles M. Yallean, one of the assignees and a creditor, from that part of the decree of the Niagara County Court made on a final accounting by tbe assignees, which allowed John T. Rush the appellant’s co-assignee commissions on $119,000, the unincumbered value of certain of the assigned property, instead of on $31,500 the amount actually received in cash by the assignees for the incum. bered interest sold. There was some additional personal property. It was claimed by the respondent that the assignees were entitled to commissions of five per cent on, $125,674.90, and by the…
1Opinion of the Court
Hardin, J. :■
"What the commissions should be allowed depends upon a construction of section 26 of the Laws of 1877 (chap. 466) as amended by section 7 of chapter 318 of the Laws of 1878, which provides that the assignee or assignees shall receive the commissions specified “ on the whole sum which will have come into his or their hands.”
That section received a construction by the Court of Appeals, In the Matter of the Assignment of Hulburt (89 N. Y., 259), where the same case (reported in 10 Abb. N. C., 284) was reversed. It was held that the words of the statute refer to the money actually…
2Cases cited3 opinions
- In Matter of Assignment of HulburtNew York Court of Appeals · 1882
- In the Matter of the Woven Tape Skirt Co.New York Court of Appeals · 1881
- In re HulbertNew York Court of Common Pleas · 1882