Legal Opinion
In re General Assignment for the Benefit of Creditors of International Ribbon Mills, Ltd.
New York Court of Appeals
Decided February 19, 1975PublishedCited by 74 opinions
1Opinion of the Court
Chief Judge Breitel.
In a special turnover proceeding, under CPLR 5225 (suibd. [b]), against the judgment debtor’s assignee for the benefit of creditors, the judgment creditor appeals. The property involved were proceeds of the debtor’s accounts receivable, first collected by the debtor’s lawyer, and now held by the assignee. The Appellate Division had reversed an order of Special Term allowing the turnover and dismissed the judgment creditor’s petition.
The issue is whether a judgment creditor obtains a superior interest in assets as against a subsequent assignee for the benefit of creditors,…
2Cases cited4 opinions
- Matter of NunezNew York Court of Appeals · 1919
- Walker v. . HenryNew York Court of Appeals · 1881
- In re the City of New YorkNew York Supreme Court · 1968
- Garro v. Republic Sheet Metal Works, Inc.Appellate Division of the Supreme Court of the State of New York · 1954
3Cited by74 opinions
- Bank of New York v. SilverbergAppellate Division of the Supreme Court of the State of New York · 2011
- Septembertide Publishing, B.V. v. Stein And Day, Inc.Court of Appeals for the Second Circuit · 1989
- General Star National Insurance v. Universal Fabricators, Inc.Court of Appeals for the Second Circuit · 2009
- Aspen Industries, Inc. v. Marine Midland BankNew York Court of Appeals · 1981
- ESI, Inc. v. Coastal Corp.District Court, S.D. New York · 1999
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