Ralph v. Cox

LEWIS, Circuit Judge.

This is a petition to revise and reverse the action of the district court in holding that the surrender value of a life insurance policy was not exempt, under sections 3465, 3466 of tho General Statutes of Minnesota, 1913, but was part of the bankrupt estate of petitioner which the trustee was entitled to collect for the benefit of the bankrupt’s creditors. The order complained of directed the bankrupt to surrender the policy to the trustee subject to the bankrupt’s right to reclaim the same by payment of its cash surrender value, and on his failure to do that the trustee…