In re Arnett
District Court, W.D. Tennessee
In Bankruptcy. When the voluntary petition in this case was filed, the bankrupt was a general merchant at Tiptonville, Tenn., dealing largely in cotton purchased by him and acquired from tenants to whom he had made advances on their crops, just being gathered and marketed. Also he was himself a planter owning large and numerous farms, growing cotton and other crops on the shares and otherwise.
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In Bankruptcy. When the voluntary petition in this case was filed, the bankrupt was a general merchant at Tiptonville, Tenn., dealing largely in cotton purchased by him and acquired from tenants to whom he had made advances on their crops, just being gathered and marketed. Also he was himself a planter owning large and numerous farms, growing cotton and other crops on the shares and otherwise. He shipped his cotton to Memphis, mostly to Godfrey Frank & Co., his factors and brokers, who had advanced him large sums of money, supplies, and other necessaries, for which dealings they held…
1Opinion of the CourtHammond, J.
(after stating the facts). It is the desire of the court to commit the questions growing out of the securities and liens claimed by Godfrey Frank & Co. and other mortgage or-lien creditors, if any, to the creditors themselves at a special meeting called to consider the subject, and see what litigation, if any, the creditors will or will not sanction. This matter should be carefully considered by the creditors themselves, upon full information, before any litigation is undertaken; and the trustee should not sue until reasonable efforts have been made to adjust the matters wifh the secured…
2Cited by4 opinions
- In Re MandellCourt of Appeals for the Second Circuit · 1934
- In re Columbia Iron WorksDistrict Court, E.D. Michigan · 1904
- In re BaberDistrict Court, E.D. Tennessee · 1902
- Palmer v. KennedyCourt of Appeals for the Second Circuit · 1934