Biggs v. Westen
Supreme Court of Missouri
Appeal from St. Louis City Circuit Court. — Ron. George R. Williams, Judge. (1) The payment of all of the bonus stock is necessary for the payment of all of the creditors unless some are held to be estopped, and there is nothing in the evidence which would prevent the company itself, even though a going concrn, from enforcing the payment of this bonus stock and therefore no creditor can, on any theory, be estopped.
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Appeal from St. Louis City Circuit Court. — Ron. George R. Williams, Judge. (1) The payment of all of the bonus stock is necessary for the payment of all of the creditors unless some are held to be estopped, and there is nothing in the evidence which would prevent the company itself, even though a going concrn, from enforcing the payment of this bonus stock and therefore no creditor can, on any theory, be estopped. The holders of this stock are indebted to the corporation itself and the amounts due thereon are an asset of the company and the plaintiff trustee in bankruptcy is entitled to…
1Opinion of the Court
OPINION.
I
BOND, J.
Trustee in Bankruptcy. (after stating the facts as above).— The trustee in bankruptcy is in law the representative of the creditors of the estate only in the sense that it is his duty to collect for their benefit and for <jue administration in the bankrupt e(rar£ ap -¿he assets of the estate. But it is not his duty to represent any creditor in the matter of prosecuting his claim against the bankrupt in any court. The position of the creditors as to each other in all cases where the estate is insufficient to pay its entire indebtedness, is one of antagonism; and the…
2Cases cited3 opinions
- Berry v. RoodSupreme Court of Missouri · 1902
- Shields v. HobartSupreme Court of Missouri · 1903
- Meyer v. Ruby Trust Mining & Milling Co.Supreme Court of Missouri · 1905
3Cited by3 opinions
- Babbitt v. ReadCourt of Appeals for the Second Circuit · 1916
- Richard Hanlon Millinery Co. v. Mississippi Valley Trust Co.Supreme Court of Missouri · 1913
- Scott v. LuehrmannSupreme Court of Missouri · 1919