Crane Co. v. Pneumatic Signal Co.

The complaint alleges that the mechanic’s lien sought to he foreclosed was filed after the adjudication in bankruptcy.

It was held in the case of Matter of Dey, 3 Nat. Bank. Rep. 305, that any lien to be recognized by the Bankruptcy Court as a valid lien on property, which passes from the bankrupt to the assignee in bankruptcy by virtue of the proceedings in bankruptcy, must be a lien at the time of the commencement of the proceedings in bankruptcy. This decision was rendered under the provisions of the former Bankrupt Law, but the principle is as applicable under the present as under the…