Rocks v. Sheppard

Opinion by

Mr. Justice Frazer,

Plaintiffs’ bill avers that Francis Rocks assigned to Peter E. Sheppard policies of life insurance to secure indebtedness of Rocks to Sheppard and others; that Rocks subsequently died and Sheppard collected the proceeds of the policies, paid the indebtedness, and created a parol trust of the remainder in the sum of $50,000 for the benefit of the widow and children of Rocks; that Sheppard made an assignment for benefit of his creditors, and to continue him as trustee would jeopardize the interests of plaintiffs; and prayed that Sheppard be directed to account for…