In re Michaelis
District Court, S.D. New York
In the matter of Michaelis & Eindeman, bankrupts. On motion by receiver for an order against the American Exchange National Bank.
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In the matter of Michaelis & Eindeman, bankrupts. On motion by receiver for an order against the American Exchange National Bank. Motion to compel the American Exchange National Bank to pay to the receiver in bankruptcy herein the sum of $380.89, less collection charges (i. e., net $380.08), being the amount of a deposit made in the bank by the bankrupts after an involuntary, petition filed against them and at a time when neither the bankrupts nor the bank knew of the pendency of the petition. These facts are admitted, but at the time of petition filed and deposit made the bankrupts were…
1Opinion of the CourtHough, District Judge
(after stating the facts as above). This motion requires a somewhat novel application of what I think are elementary principles. It may be assumed, as stated in Re Zotti (C. C. A. 2d Cir.) 26 Am. Bankr. Rep. 234, 186 Fed. 84, 108 C. C. A. 196, that the receiver in bankrupcty is but a custodian without title for the purpose of preservation and] not for the purpose of distribution of the estate. Nevertheless he is entitled to take custody of whatever is plainly the property of the bankrupt and against which no third party makes any claim with color of title.
[ 1 ] It may also be admitted that…
2Cases cited3 opinions
- Sexton v. DreyfusSupreme Court of the United States · 1911
- In re ZottiCourt of Appeals for the Second Circuit · 1911
- Steinhardt v. National Park BankAppellate Terms of the Supreme Court of New York · 1907
3Cited by19 opinions
- May v. HendersonSupreme Court of the United States · 1925
- In Re HowellUnited States Bankruptcy Court, M.D. Tennessee · 1980
- Citizens Fidelity Bank & Trust Co. v. All-Brite Sign Service Co. (In Re All-Brite Sign Service Co.)United States Bankruptcy Court, W.D. Kentucky · 1981
- Lowden v. Northwestern Nat. Bank & Trust Co.Court of Appeals for the Eighth Circuit · 1936
- Ingram v. LIBERTY NATL. BANK & TRUST CO. OF OKLAHOMA CITYSupreme Court of Oklahoma · 1975
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