Farmers' & Mechanics' Nat. Bank of Philadelphia v. Ridge Avenue Bank
Supreme Court of the United States
CERTIFICATE FROM THE CIRCUIT COURT OF APPEALS FOR THE THIRD CIRCUIT. The facts, which involve the construction of the provisions of § 5 of the Bankruptcy Act of 1898, relative to the individual assets of a méniber of. a bankrupt partnership and who are entitled to priority in sharing therein, are stated in the opinion.
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CERTIFICATE FROM THE CIRCUIT COURT OF APPEALS FOR THE THIRD CIRCUIT. The facts, which involve the construction of the provisions of § 5 of the Bankruptcy Act of 1898, relative to the individual assets of a méniber of. a bankrupt partnership and who are entitled to priority in sharing therein, are stated in the opinion. Distribution must be made in strict compliance with clause “f,” that is, the creditors of the individual partners are entitled to priority in the distribution of such partner’s individual estate. The existence or non-existence of firm assets does not permit or admit of…
1Opinion of the CourtChief Justice White
The essential facts stated in the certificate of the . court below- are these; The firm of William Gray & Sons and its three partners, William J. Gray, Peter Gray and Alexander J. Gray, weré adjudged bankrupts. The same person was appointed trustee of the four estates. It resulted from charging, separately against each estate the mere necessary and unquestioned expenses of administration that there was nothing, whatever in the estate either of the partnership, of that of William J. Gray or of-Peter Gray, — indeed in the latter there Was nothing to defray the expenses of administration. As to…
2Cases cited4 opinions
- Miller v. New Orleans Acid & Fertilizer Co.Supreme Court of the United States · 1909
- In re JanesCourt of Appeals for the Second Circuit · 1904
- Conrader v. CohenCourt of Appeals for the Third Circuit · 1903
- West v. SmithSupreme Court of the United States · 1850
3Cited by10 opinions
- William J. Rochelle, Jr., Trustee v. United StatesCourt of Appeals for the Fifth Circuit · 1975
- Anderson v. Stayton State BankOregon Supreme Court · 1916
- Bell v. Louis (In Re Louis)United States Bankruptcy Court, E.D. Wisconsin · 1985
- Bisignano v. Municipal Court of Des MoinesSupreme Court of Iowa · 1946
- Savitsky v. Katz (In Re Katz)United States Bankruptcy Court, D. Massachusetts · 1982
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