Von Eberstein v. Standard Oil Co.

1. Where a debtor proposed to pay a certain per centum of his indebtedness, and at the same time paid some of his creditors a larger proportion of their claims, but kept that fact concealed from the creditors who accepted the proposed settlement, such settlement was fraudulent and void, and did not bind the creditors. Saul v. Buck, 72 Ga. 254 (5). Thus, an agreement with certain creditors whereby they agreed to accept twenty-five per cent, of their claims in full settlement, made upon condition that all unsecured creditors should accept the same terms, would not be binding if such creditors…