In re Ramseur
District Court, N.D. Georgia
In Bankruptcy. In the matter of E. F. Ramseur and Frank Simpson, bankrupts. On review of referee’s order setting aside exemption.
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In Bankruptcy. In the matter of E. F. Ramseur and Frank Simpson, bankrupts. On review of referee’s order setting aside exemption. The stock of merchandise of the bankrupts was levied upon on February 10, 1921, by virtue of the foreclosure of two mortgages thereon; on February 18 an involuntary bankruptcy was begun against them; on February 24 the stock of merchandise was sold by the sheriff; on March 11 adjudication in bankruptcy was had, and later the sheriff paid over to the trustee in bankruptcy the remainder of the proceeds of sale after satisfying the mortgage fi. fas. The bankrupts…
1Opinion of the Court
SIBLEY, District Judge.
The original property was levied upon by the sheriff before bankruptcy, and the mortgage lien which was being enforced not being invalidated by the bankruptcy, he sold the property, and only the excess over the mortgage of the money produced by the sale ever came into the hands of the bankrupt court. The bankrupt did not claim and could not have claimed that the trustee set apart as exempt the property which had been sold by the sheriff before the adjudication in bankruptcy ever occurred', but could only claim the cash which came to the bankrupt court. He had not…
2Cases cited2 opinions
- Taylor v. JarrellSupreme Court of Georgia · 1898
- Woods v. JonesSupreme Court of Georgia · 1875