Morey v. Milliken
Supreme Judicial Court of Maine
On exceptions. This was a case arising upon objections to the proof of debt of Morey & Company, filed in the estate of Denison Paper Manufacturing Company, Insolvent. The petitions to have the proof of debt re-examined were filed by Charles K. Milliken, George C. Wing and others. They alleged that Morey & Company had received an unlawful preference from the insolvent debtor.
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On exceptions. This was a case arising upon objections to the proof of debt of Morey & Company, filed in the estate of Denison Paper Manufacturing Company, Insolvent. The petitions to have the proof of debt re-examined were filed by Charles K. Milliken, George C. Wing and others. They alleged that Morey & Company had received an unlawful preference from the insolvent debtor. When Morey & Company filed their proof of debt with security, the following agreement was made between them and the assignees : "This Instrument Witnesseth: Morey & Company claim that on March 2nd, 1887, the Denison Paper…
1Opinion of the CourtHaskell, J.
Morey & Company proved their debt in insolvency against their insolvent debtor’s estate to the amount of $134,815.07. To this proof objections were filed by other creditors that Morey & Company had received a preference in fraud of the insolvent law.
By an agreement in writing between Morey & Company and the assignees, approved by the judge of insolvency, it was stipulated that a fair value of the amount of security received should be considered $53,860.85, and that the same, together with rebates of interest amounting to $637.53, in all $54,498.38, should be deducted from the whole claim, and…
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