Eames v. H. B. Claflin Co.
District Court, S.D. New York
In Equity. Creditors’ bill by John C. Eames against the H. B. Clañin Company. On petition by the receivers for instructions regarding the claims of Joshua L. Bailey & Co. This is a motion made in a creditors’ bill to sequestrate the assets oí a coi-poration in financial embarrassment, for distribution among its creditors.
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In Equity. Creditors’ bill by John C. Eames against the H. B. Clañin Company. On petition by the receivers for instructions regarding the claims of Joshua L. Bailey & Co. This is a motion made in a creditors’ bill to sequestrate the assets oí a coi-poration in financial embarrassment, for distribution among its creditors. Receivers were appointed by an order signed on .Tune 24, 1914, between 5 and 5:30 p. m. after the clerk’s office had closed; the order being filed at the opening of the office on the 25th at 9 a. m. The receivers’ possession was made conditional on filing a bond, and the…
1Opinion of the CourtEearned Hand, District Judge
(after stating the facts as above). I do not find it necessary in this case to decide whether the possession of the receivers relates back to the time of the filing of the order for the following reasons. The receivers are entitled, regardless of the form of the papers, to possession only of such assets as were owned by the corporation at the time of filing either of the bill or of the decree appointing them. If the corporation acquires any assets thereafter, it is not relevant to the sequestration suit. Now the contract of sale was an existing asset of the corporation, which the receivers…
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