Fallows v. Continental & Commercial Trust & Savings Bank
Court of Appeals for the Seventh Circuit
Appeal from the District Court of the United States for the Eastern Division of the Northern District of Illinois; George A. Carpenter, Judge. In the matter of the Tengwall Company, bankrupt. From an order sustaining objections to his claim as a secured debt, Edward H. Fallows, trustee, appeals.
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Appeal from the District Court of the United States for the Eastern Division of the Northern District of Illinois; George A. Carpenter, Judge. In the matter of the Tengwall Company, bankrupt. From an order sustaining objections to his claim as a secured debt, Edward H. Fallows, trustee, appeals. From the report of the referee it appears that on June 4, 1910, Barnhart Bros. & Spindler, among others, filed their petition praying that the Tengwall Company be declared a bankrupt; that on June 17, 1910, said company was adjudicated a bankrupt; that on August 9, 1910, said trust company was duly…
1Opinion of the CourtKohlsaat, Circuit Judge
(after stating the facts as above). This is a controversy to determine which of two liens is entitled to priority against the property of a bankrupt. Appellant, as trustee, represents the holders of 200 bonds for $100 each, bearing interest at the rate of 5 per' cent., dated October 7, 1905, and maturing October 1, 1920, secured by a chattel mortgage on all the plant of the bankrupt, including the stock in trade. It will be noted that the indebtedness runs for a period of practically 15 years, while under the laws of Illinois a chattel mortgage is valid for only three years. In their efforts…
2Cases cited12 opinions
- In re New York Economical Printing Co.Court of Appeals for the Second Circuit · 1901
- Joseph Davis, Cory & Co. v. Chicago Dock Co.Illinois Supreme Court · 1889
- Hamilton v. QuimbyIllinois Supreme Court · 1867
- Peck v. City National Bank of Grand RapidsMichigan Supreme Court · 1883
- Gilmore v. DavisIllinois Supreme Court · 1877
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3Cited by2 opinions
- Harrison v. OrrTexas Commission of Appeals · 1927
- R. B. Spencer & Co. v. HarrisCourt of Appeals of Texas · 1943