Chicago Title & trust Co. v. Gradner
Court of Appeals for the Seventh Circuit
Appeal from, and Petition to Review and Revise Order of, the District Court of the United States for the Eastern Division of the Northern District of Illinois. In the matter of the O’Gara Coal Company, bankrupt. From an order of the District Court, made on petition of Frank G. Gardner, trustee, the Chicago Title and Trust Company, as receiver of the Fa Salle Street Trust and Savings Bank, appeals, and also files petition to review and revise.
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Appeal from, and Petition to Review and Revise Order of, the District Court of the United States for the Eastern Division of the Northern District of Illinois. In the matter of the O’Gara Coal Company, bankrupt. From an order of the District Court, made on petition of Frank G. Gardner, trustee, the Chicago Title and Trust Company, as receiver of the Fa Salle Street Trust and Savings Bank, appeals, and also files petition to review and revise. In 1913 O’Gara Coal Company became bankrupt. It owed the La Sallo Street Trust & Savings Bank a nolo for 815,000. Trustees of bankrupt deposited funds…
1Opinion of the CourtAeschuler, Circuit Judge
(after stating the facts as above). Only questions of law are involved, which we will dispose of without determining the question of appellate procedure. The primary and controlling question is: Was there at the time the bank suspended a right of set-off as between these demands ? Section 68 provides that—
“In all eases of mutual debts or mutual credits between the estate of the bankrupt and the creditor the account shall be stated and one debt set off against the other and the balance only shall be allowed or paid.”
We are met upon the threshold with the condition that .the deposits were not…
2Cases cited2 opinions
- People v. Cal. Safe Deposit & Tr. Co.California Supreme Court · 1914
- In re United Grocery Co.District Court, S.D. Florida · 1918
3Cited by6 opinions
- Gardner v. Chicago Title & Trust Co.Supreme Court of the United States · 1923
- McDaniel Nat. Bank v. BridwellCourt of Appeals for the Eighth Circuit · 1934
- In Re O'Gara Coal Co.Court of Appeals for the Seventh Circuit · 1926
- Gardner v. Chicago Title & Trust Co.Court of Appeals for the Seventh Circuit · 1926
- Chicago Title & Trust Co. v. GardnerCourt of Appeals for the Seventh Circuit · 1925
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