People v. E. Remington & Sons
New York Court of Appeals
Appeal by the receivers of E. ' Remington & Sons, an insolvent corporation, from an order of the General Term, made November 25, 1889, which affirmed an order of the Special Term, which overruled their exceptions to the report of a referee upon the claim of the Ilion National Bank, a creditor, and confirming the report of a referee. The defendant corporation was proceeded against by the People, in an action for its dissolution on the ground of insolvency.
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Appeal by the receivers of E. ' Remington & Sons, an insolvent corporation, from an order of the General Term, made November 25, 1889, which affirmed an order of the Special Term, which overruled their exceptions to the report of a referee upon the claim of the Ilion National Bank, a creditor, and confirming the report of a referee. The defendant corporation was proceeded against by the People, in an action for its dissolution on the ground of insolvency. Receivers were appointed and a reference ordered to take proof of claims. The Ilion National Bank, this respondent, was a creditor to a…
1Opinion of the CourtGray, J.
The only question presented for our consideration and determination by this appeal is, whether the creditor of this insolvent corporation was entitled to prove and receive a dividend upon the full amount of the debt due from the insolvent estate; or, whether the receivers, as the personal representatives of the insolvent, could reduce the claim of the creditor, for the purposes of a dividend, by compelling a deduction, from the amount of the proved debt, of the value of collateral securities, or of any proceeds thereof. There are conflicting decisions upon this question in the courts of the…
2Cases cited5 opinions
- Lewis v. United StatesSupreme Court of the United States · 1876
- Slee v. BloomNew York Supreme Court · 1822
- In re BatesIllinois Supreme Court · 1886
- Findlay v. HosmerSupreme Court of Connecticut · 1817
- West v. Bank of RutlandSupreme Court of Vermont · 1847
3Cited by64 opinions
- Merrill v. National Bank of JacksonvilleSupreme Court of the United States · 1899
- Harrigan v. GilchristWisconsin Supreme Court · 1904
- Chemical Nat. Bank v. ArmstrongCourt of Appeals for the Sixth Circuit · 1893
- McGrath v. . Carnegie Trust Co.New York Court of Appeals · 1917
- In re Waddell-Entz Co.Supreme Court of Connecticut · 1896
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