Levy v. Chicago National Bank
Appellate Court of Illinois
Memorandum.—Proceedings under the voluntary assignment act. Appeal from the County Court of Cook County; the Hon. Frank Scales, Judge, presiding. Heard in this court at the October term, 1894, and affirmed. Statement of the Case.
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Memorandum.—Proceedings under the voluntary assignment act. Appeal from the County Court of Cook County; the Hon. Frank Scales, Judge, presiding. Heard in this court at the October term, 1894, and affirmed. Statement of the Case. Herman Schaffner & Company, by A. G. Becker, the surviving partner, made an assignment June 3, 1893. Their indebtedness exceeded at that time §2,000,000. Their assets were such, that up to the present túne, a ten per cent dividend had been declared, and the prospects for more than five per cent additional dividend are exceedingly slight. At the date of the assignment…
1Opinion of the Court
Me. Presiding Justice Waterman
delivered the opinion or the Court.
These appeals, involving as they do the same question of law, one opinion applicable to each, is written.
A proper decision of these cases requires a consideration of what the estate is which the assignee of an insolvent receives and administers upon, as well as the nature of the claim made by' a creditor and the effect of an allowance thereof.
The estate which passes under our assignment law to the assignee of an insolvent is merely the estate which the assignor, at the time of the making of such assignment, had. The assigned…
2Cases cited6 opinions
- Union Trust Co. v. TrumbullIllinois Supreme Court · 1891
- People v. E. Remington & SonsNew York Court of Appeals · 1890
- In re BatesIllinois Supreme Court · 1886
- Furness v. Union National BankIllinois Supreme Court · 1893
- Heinzelman Bros. v. SchraderIllinois Supreme Court · 1894
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Kittredge v. NicholesAppellate Court of Illinois · 1895