In re Murray
New York Court of Chancery
The petitioner, together with two other persons now deceased, were appointed by a former chancellor assignees of the Commercial Insurance Company of New-York, under the provisions of the act of April, 1814, respecting incorporporated insurance companies in cases of their insolvency.
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The petitioner, together with two other persons now deceased, were appointed by a former chancellor assignees of the Commercial Insurance Company of New-York, under the provisions of the act of April, 1814, respecting incorporporated insurance companies in cases of their insolvency. The effects of the company at the time of the assignment were not sufficient to pay the principal of the debts due to its creditors; but in consequence of the receipt by signee of large amounts under the late Neapolitan and French treaties, the effects now realized were sufficient to pay the whole of the…
1Opinion of the Court
The Chancellor.
The court has been referred to the cases decided in England, under their bankrupt laws, where it has been held that the creditors of the bankrupt, under a commission of bankruptcy, could prove for the interest of their debts only in those cases where interest was payable by the terms of the contract; that they could not prove for interest where it was only given by a court or jury as damages for the detention of a debt, as upon a bill of exchange or note not upon interest but which was not paid when it became due; (Ex parte Marler, I Atk. 151. Ex parte Champion, 3 Bro. C. C.…
2Cited by5 opinions
- In Re the General Assignment for the Benefit of Creditors of Pavone Textile Corp.New York Court of Appeals · 1951
- In re HaakeDistrict Court, D. California · 1872
- In re the General Assignment for the Benefit of Creditors of Pavone Textile Corp.New York Supreme Court · 1949
- In re TownDistrict Court, E.D. Michigan · 1873
- In re the Assignment of DuncanNew York Court of Common Pleas · 1881