Pearlman Trust

Opinion by

Me. Justice Linn,

This appeal by the liquidator of a building association is from a decree entered at the audit of a trustee’s account and involves a dispute between claimants for the proceeds of life insurance. The learned court held that the liquidator of the building association had abandoned his interest in the policies and was therefore not entitled to participate in the fund before the court. He has appealed.

October 1, 1930, Martin M. Pearlman and his wife transferred certain assets to J. William Hardt, trustee “for the actual and ratable benefit of” certain creditors. The…