First Nat. Bank of Lake Charles v. Lanz
Court of Appeals for the Fifth Circuit
Appeal from the District Court of the United States for'the Western District of Louisiana; Aleck Boarman, Judge. In the matter of C. B. .Wilcox, bankrupt;‘H. W. Lanz, trustee. From an order disallowing its claim as a secured claim, the First National Bank of Lake Charles appeals.
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Appeal from the District Court of the United States for'the Western District of Louisiana; Aleck Boarman, Judge. In the matter of C. B. .Wilcox, bankrupt;‘H. W. Lanz, trustee. From an order disallowing its claim as a secured claim, the First National Bank of Lake Charles appeals. This is an appeal from the order of the District Court, affirming an order of the referee in bankruptcy, disallowing the claim of the appellant bank as a secured claim against the estate of the bankrupt, and directing the cancellation of a mortgage and notes given the bank by the bankrupt on which the claim was…
1Opinion of the CourtGrubb, District Judge
(after stating the facts as above). [1,2] The pledge of bank stock having been given to and received by the bank more than four' months before bankruptcy, it cannot be held to be a preference, though given to secure a pre-existing unsecured debt. The sale within four months, pursuant to the pledge, would not affect this result. Jerome v. McCarter, 94 U. S. 734, 24 L. Ed. 136. The delivery of the certificate, under Louisiana law, is effectual to perfect the pledge, without transfer on the books of the corporation. Crescent City Mineral Water Co. v. Deblieux, 40 La. Ann. 155, 3 South. 726;…
2Cases cited8 opinions
- Lockwood v. Exchange BankSupreme Court of the United States · 1903
- Hiscock v. Varick Bank of New YorkSupreme Court of the United States · 1907
- Jerome v. McCarterSupreme Court of the United States · 1877
- National Bank of Xenia v. StewartSupreme Court of the United States · 1883
- Mills v. J. H. Fisher & Co.Court of Appeals for the Sixth Circuit · 1908
3 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Mississippi Valley Trust Co. v. Railway Steel Spring Co.Court of Appeals for the Eighth Circuit · 1919
- Baumbaugh v. Los Angeles Morris Plan Co.Court of Appeals for the Ninth Circuit · 1929
- Jackman v. Continental Nat. BankCourt of Appeals for the Eighth Circuit · 1926
- Gylling v. KjergaardCourt of Appeals for the Eighth Circuit · 1923
- Hughes v. Lawyers Trust Co.Court of Appeals for the Second Circuit · 1940
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