Bickley v. Armour & Co

We do not find the elements of estoppel present in this case. Bickley suffered no detriment or prejudice by reason of making the proof of claim phrased as above stated. Furthermore, the guaranty held by Armour & Company was that of a third party and in no wise secured by any property of the bankrupt, and, therefore, Armour & Company was not a secured creditor within class 23, Section 1 of the Bankruptcy Act! As was held in Bank of Searcy v Merchants’ Grocer Co., 185 S.W., 806, the fact that the debt of a bankrupt is secured by collateral other than that of the bankrupt himself, does not make…