Blair & Co. v. Foley

(dissenting) :

Some nineteen years ago, a wise and comprehending judge, in construing Section 3a(5) of the Bankruptcy Act, had this to say:

“I do not think it is necessary to resort to dictionary definition of ‘appointment.’ It is not required that the transferee of the property be formally ‘appointed’ as ‘trustee’ by a ceremonial document referring to him as such. The method adopted to effect the transfer is immaterial. It is the end result that counts. Any action by one who is insolvent which effectively causes the transfer of his property to another for final liquidation purposes appoints…