Perth Amboy Gas Light Co. v. Middlesex County Bank
New Jersey Court of Chancery
On appeal from the decision, of the receiver of the insolvent defendant. This matter comes before the court on divers appeals from the rulings of the receiver refusing the demand of several creditors of the insolvent defendant bank to have their claims paid in full in preference to the general creditors.
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On appeal from the decision, of the receiver of the insolvent defendant. This matter comes before the court on divers appeals from the rulings of the receiver refusing the demand of several creditors of the insolvent defendant bank to have their claims paid in full in preference to the general creditors. At the same time application is made to the court by several creditors, who have heretofore proved their claims as such and been admitted, to amend their claims so as to ask for a preferential payment. The general ground upon which the claim is made is that the claims in question arose…
1Opinion of the Court
Pitney, V. C.
Before considering the several claims of the appellants, with their individual characteristics, it is well to determine the principles applicable to cases of this kind. And, in the first place, it is to be borne in mind throughout that this is a contest between the different 'creditors of the bank, and not a contest with the bank itself as a corporation; or with any of its officers. It is not a question of whether the officers and directors of this bank, other than the cashier, who is now serving a term of penal punishment for his misconduct in connection therewith, are…
2Cases cited3 opinions
- Cragie v. . HadleyNew York Court of Appeals · 1885
- Metropolitan National Bank of New York v. LoydNew York Court of Appeals · 1882
- Atkinson v. . Rochester Printing Co.New York Court of Appeals · 1889
3Cited by12 opinions
- In Re GubelmanCourt of Appeals for the Second Circuit · 1925
- Raynor v. Scandinavian-American BankWashington Supreme Court · 1922
- Scott v. W. H. McIntyre Co.Supreme Court of Kansas · 1914
- Acme Hay & Mill Feed Co. v. Metropolitan National BankSupreme Court of Iowa · 1924
- Fidelity & Deposit Co. of Maryland v. Kelso State BankCourt of Appeals for the Ninth Circuit · 1923
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